Onefinestay secures $3.7 million investment, plots boutique city expansion
UK startup Onefinestay has captured the attention of a string of luminaries from the history of online travel and secured a Series A funding round worth $3.7 million.
Index Ventures is leading the funding round, announced this morning, alongside participation from PROfounders Capital featuring the likes of Lastminute.com co-founder Brent Hoberman and Andy Phillips of Active Hotels fame.
Other figures involved in the round include Jonathan Eilian (founding investor of Starwood) and David Magliano (ex-director of marketing for London 2012).
Partner at Index Ventures, Robin Klein, will take a seat on the board of Onefinestay.
Onefinestay launched in August 2010 (see TLabs Showcase – Onefinestay) with the aim of matching upmarket home owners in London with visitors to the city.
The twist from a usual vacation rental property is that Onefinestay provides hotel-like services such as room service from local restaurants, an iPhone with free local calls for the duration of the visit and changes of linen and toiletries.
Founder Greg Marsh says the funding will be used primarily in two ways:
- Firstly to support the existing (and growing) database of properties on the system in London, currently running at around 50 upscale home across the centre of the city.
- Spearhead the launch of Onefinestay in other boutique-type cities around the world, such as Paris, New York and Rome.
Both initiatives need a balance between technical support as well as operational staff on the ground, Marsh says.
Kevin May is editor and a co-founder of Tnooz. He was previously editor of UK-based magazine Travolution for nearly four years and web editor of Media Week UK from 2003 to 2005.
He has also worked in regional newspapers (Essex Enquirer) and started his career in journalism at the Police Gazette at New Scotland Yard in London. He has a degree in criminology and a postgraduate diploma in magazine journalism.