Holiday Swap Group raises $15m to achieve $400m valuation
UK: Vacation exchange and booking platform, Holiday Swap Group, has secured $15 million in fresh funding, with $10 million raised at a $400 million valuation.
The incoming funding, provided by a diversified but undisclosed group of investors, acknowledges the platform’s significant growth and potential in revolutionising how people travel and experience new destinations.
In addition to the recent funding, Holiday Swap Group’s commercial aviation subsidiary has agreed in principle a substantial $60 million investment, highlighting the pivotal role of aviation in driving the company’s valuation. The company’s innovative approach to providing affordable travel options, combined with its community of travellers, is setting the stage for continued success and expansion in the coming years.
Founded in 2018, Holiday Swap Group seeks to unite a global community of travellers eager to explore the world in a more cost-effective and genuine manner. The platform empowers users to book their homes or vacation properties with fellow members, bypassing costly hotels and unlocking one-of-a-kind local experiences for all.
With over a million users worldwide, the company has rapidly emerged as a significant player in its market segment.
The most recent funding round will propel the company’s expansion, enabling the development of innovative features that elevate the user experience. The investment will also fuel the platform’s accelerated growth, drawing in more customers from across the globe.
Holiday Swap Group founder and CEO, James Asquith, said: “This new investment serves as a testament to our team’s dedication and the phenomenal growth we have achieved over the years. We are thrilled to continue innovating and creating new features that make travel even more accessible and enjoyable for our community.”
Having already disrupted the conventional vacation rental market, the company said that it remained “steadfast” in its mission to make travel accessible and affordable for all, while fostering cultural exchange and genuine experiences.
In January last year, Holiday Swap Group announced that His Highness Sheikh Juma Ahmed Juma Al Maktoum in Dubai was joining the company’s board of directors, having already been a substantial investor through Elite Partner Investment LLC since April 2020.
In a statement at the time, Asquith said that “his highness will be involved in strategic decisions for the management group providing leadership to the board and setting the tone for company culture of sustainability and global access that marks an exciting new chapter for the world’s largest home exchange platform”.
Elsewhere in the home exchange segment recently, French home exchange platform HomeExchange has acquired British competitor Love Home Swap and home-sharing network My weekend for you in Southeastern France, both in March.