Cosmopolit Home secures Euro 2 million for free night-swapping service
A number of private investors also participated in the round.
Founder Serge Duraivig says the investment will be used to continue its growth in Europe and also target North America.
Cosmopolit Home claims to have 6,000 hosts in 54 countries.
The system works by allowing hosts to register their property with the site, attract travellers to stay, and then accrue credits to be used for a free stay (“night-swapping”) by the member elsewhere.
Lofty ambitions are being held by the company, with it claiming to be the “world reference in peer-to-peer travelling within the next five years”.
The company says it is combining the concept of homestays with couch-surfing and holiday rentals.
The CouchSurfing brand itself has undergone a string of changes in recent years, mostly recently installing a new CEO and enlisting industry heavyweight Erik Blachford and Joel Cutler to its board as it seeks to revitalise the brand in the wake of the rise of Airbnb and its kin.
Kevin is senior editor and a co-founder at Tnooz. He was previously editor of UK-based magazine Travolution and web editor of Media Week UK from 2003 to 2005.
He has worked in regional newspapers (Essex Enquirer) and started his career at the Police Gazette at New Scotland Yard in London. He has a degree in criminology, a postgraduate diploma in magazine journalism and publishes his first book - a biography about Depeche Mode - in early-2017.