Stockholm: Global channel manager Rentals United has announced an investment of $4.25 million from Stella EOC Capital and Howzat Partners, with existing investors also participating in the round.
Rental United’s principal aim is to provide all short-term rental property managers with premier channel management and a marketing solution that allows them to increase revenue and save time.
Furthermore, the company provides a number of leading travel websites with access to a substantially larger inventory in order to serve the rapidly growing demand from modern travellers.
The company, which was founded in 2015, has offices in Stockholm, Barcelona and Warsaw and helps more than 2,000 property managers distribute over 250,000 listings onto over 60 travel websites. Current travel website partners include Airbnb, Booking.com and HomeAway, in addition to all locally relevant platforms in many regions globally.
In addition, Rentals United claims to hold the record for onboarding the most properties onto Airbnb in 2018.
The latest round of funding will allow Rentals United to continue its mission of providing advanced distribution & automation tools for its international customer base, by investing in talent acquisition, international expansion and additional technology advancements.
Raymond Fröjd, partner at Stella EOC, said: “We are delighted to invest and to support the great team behind Rentals United. The short-term rental industry is growing fast globally and therefore also the demands for modern technology solutions.
“Rentals United is well-positioned in the market with a strong offering to help property managers to increase bookings and improve their service offering for the user,” he added.
Sascha Hausmann, partner at Howzat Partners, said: “Over the last few years we have seen substantial growth in the alternative accommodation market with modern travellers demanding more choice and flexibility. We therefore invest into technology providers that help facilitate ease of business and provide disruptive, reliable, easy-to-use solutions to market participants.
“The team of Rentals United has shown it can build a sustainable business based on those principals,” he added.
Rentals United CEO James Burrows said: “In only three short years we have managed to sign over 50 per cent of the world’s largest property managers as clients. This investment round will allow us to build even more tools to help property managers everywhere to improve their marketing and business performance.
“We are also thrilled about the wealth of knowledge and experience our new investors bring to our team. The road ahead is a very exciting one,” he added.
It has also been announced that Fröjd and Hausmann will be joining the Rentals United board of directors.
For more information about the investment, visit the Rentals United website here.