Already claimed to be a number one concierge for a short-term rental in France, HostnFly is raising a new round of funding from hospitality-focused Highgate Ventures and current backers Partech and Kerala Ventures to aid HostnFly’s international expansion and secure its local presence in France.
“These funds will allow us to expand aggressively thanks to a constant improvement of our technologies and to keep deploying in new cities in France and abroad. We will triple the size of the team in one year with the goal to become the European leader in the rapidly growing industry,” said Quentin Brackers de Hugo, co-founder and CEO of HostnFly.
Just one year after the launch in 2016, HostnFly has raised its first round of $3 million in July 2017 for the development of its business on the French market. Currently it manages over 3,000 homes, mainly in Paris, Lyon and Marseille, and is soon going to expand to a number of ski and seaside resorts throughout France via the partnership with La Conciergerie by Odalys (Odalys Group).
With the current round, said to be the largest completed by a French player in the sector, HostnFly is planning to secure the local leader position and aggressively expand its footprint as a turnkey rental management service of choice for Airbnb renters. And while some home owners are happy to play host and run their listings, there is a growing demand for a full service third-party management platforms like HostnFly. The company is aiming to give its customers both peace of mind in regards to logistical tasks and up to 30 percent more revenue on average, by optimising the renting prices with their smart algorithms.