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Denmark: All-in-one short-term rental management platform Your.Rentals has announced that it has raised €1.7 million from existing shareholders to expand its market reach.
The company has previously received funding from seed-stage venture fund Trind Ventures, while unnamed investors also participated in a Seedrs fundraising campaign for Your.Rentals in April 2023.
Klavs Pedersen, chairman and co-founder of Your.Rentals, said: “In a tough market for raising growth capital, we’re extremely happy to have the ongoing support of our shareholders to continue growing the business.”
Since its last fundraise in 2023 [a venture capital investment last October], the company revealed that it had accelerated its investments into research and development [R&D] to broaden the capabilities of its “all-in-one” platform, releasing the following improvements to its customers:
- Dynamic pricing from PriceLabs and AirDNA – letting customers automate their pricing and increase revenue by 20 – 30 per cent on average
- Unified inbox – messaging to guests across most channels
- Scheduled messages – automating repetitive guest support tasks
- Unified reviews – collecting and responding to guest reviews in most channels
- Your.Capital – cash-advance loans for growing businesses
- Your.Cover – simplified and guaranteed damage deposits
The company has also prioritised capital efficient growth and delivered a positive EBITDA during 2024 year to date, with a goal to be profitable in 2025.
Andrew Martyn, co-founder and CEO of Your.Rentals, said: “Reaching EBITDA break-even has been an important step for the company. Striking the right balance between growth and profitability is a top priority for growth-stage companies like Your.Rentals.”
The company plans to use the investment to reach as many new customers as possible in new and existing markets, and improve its product offering with a focus on its target customers.
Martyn continued: “Other short-term rental management solutions on the market require their users to build complicated tech stacks and maintain billing relationships with multiple booking platforms. While this approach works for large-scale property managers, smaller players are typically overwhelmed by the complexity.
“Your.Rentals’ all-in-one solution helps small business property managers and private hosts simplify and automate their daily work so they can focus on the areas of their business that they enjoy most,” he added.
Martyn appeared in a STRz webinar on ‘Exploring alternative sources of funding’ in May – watch the recording now at this link.
