French startup Le Collectionist, a vacation rental platform for luxury homes, has raised $10 million in a Series B round. Half of the investment comes from the new Red River West fund, backed by the Pinault family, which is known for its investment in luxury companies. The startup previously raised a round of €2 million at the end of 2015.
Le Collectionist plans to use the new funds to consolidate its position as the "Airbnb for the wealthy" on a global scale, and to open 100 offices worldwide by 2020.
The startup caters to the "1%" of wealthiest citizens - its customers pay €26,000 on average for a 10 night stay. Unlike Airbnb, Le Collectionist carefully chooses its sites, with high standards: they must have several bedrooms, a pool, be spacious and beautifully decorated. The startup's selection includes almost 2,300 houses, castles, and even small islands throughout the world.
The platform takes a 20% commission on the rentals, and the price includes basic services, including housekeeping and gardeners, provided by the property owners. Renters have the option of contracting additional services through the platform, including day boat rentals or chefs, for an extra fee.
Read more: La Tribune (French)