HostnFly accrues $10 million in funding round

France: Property management platform HostnFly has raised a reported $10 million in a funding round to grow its vacation rental service offerings for hosts.

Since launching in 2016, the France-based firm has accrued over $13 million in investment. The latest round was led by Highgate Ventures, an early stage and growth equity backer which has already financed a number of travel startups, and Partech also announced it had participated in the raise.

The idea is seen as replicating a support system for vacation rental owners and hosts.

HostnFly operates by providing channel management tools and property listings to other platforms such as Booking.com, Vrbo and Airbnb. It also handles key services like housekeeping, content for distribution listings, maintenance and anything else that contributes to improving the overall guest experience.

The latest injection of funding will go towards increasing the number of properties using the platform to 10,000 within the next two years.

In the meantime, HostnFly wants to expand into other European countries outside of its own domestic market, such as Italy and Spain.

As part of a broader strategy, the company envisages hiring an additional 50 employees over the next 12 months in order to expand the team by up to three times its current number.

For more information, visit the HostnFly website here.