It represents the UK-based venture fund’s entry into the travel industry, enabling Holiday Swap to receive ‘smart money’ support as part of the financial terms of the transaction.
Holiday Swap says that it will use the investment to accelerate its expansion plans, including launching new travel options and services, enhancing its customer services and revamping its tech system.
The company secured $15 million in fresh funding in April, with $10 million raised at a $400 million valuation.
James Asquith, founder and CEO of Holiday Swap Group, said: “Futurecraft Ventures is a great partnership for Holiday Swap, connecting technology, innovation and capital together, unlocking long-term value and driving growth.”
In addition to the recent funding, Holiday Swap Group’s commercial aviation subsidiary recently 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.
It has grown its presence into 185 countries and its user base to more than one million users worldwide since its launch five years ago.
Having now acquired a stake in Holiday Swap, Futurecraft Ventures has previously invested in the likes of Shariah-compliant digital currency Islamic Coin, payments startup Monerchy, digital asset exchange Haqqex, and forex trading firm Exfor.
Elsewhere in the home exchange segment recently, French home exchange platform HomeExchange acquired British competitor Love Home Swap and home-sharing network My weekend for you in Southeastern France, both in March.