TravelNest raises £3 million in seed funding

Published: 07 December 2017

Edinburgh-based travel tech startup TravelNest has raised £3 million in seed funding from Pentech, Mangrove Capital Partners, Frontline Ventures, and former Skyscanner COO Mark Logan.

TravelNest is a central platform for holiday rental hosts to manage all of their advertising in one place, providing a dashboard on the ads’ data and the property’s performance. The platform is free with TravelNest earning revenue via commissions from ads booked through the platform.

We see a very large opportunity to create value by intelligently matching supply and demand. With this experienced group of investors we have support for the long run...

Doug Stephenson, CEO, TravelNest

 

The vacation rental market is tipped to be worth $193 billion, said the company, driven by the likes of Airbnb and Booking.com. However, the landscape is rather fragmented with hosts needing to manage several different avenues for advertising and renting their properties. 

The new capital will be invested in growing its engineering team and further product development. The bulk (90%) of the company’s business is the UK with a view to expanding internationally...

Full story via Tech.EU 

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