Lodgify, a vacation rental software startup, said today that it had raised Euro 1.4 million in a equity financing round led by Nauta Capital.
This is a second seed round for the Barcelona-based startup, following its Euro 600,000 first one. Past investors Chris Hitchen, Howzat Partners, and Roland Zeller re-upped.
The top-up funding brings Lodgify’s total raised to Euro 2 million and will help the startup to accelerate its product development and expand its sales and marketing efforts.
The team has 14 full-time employees, and it expects to double that number by year-end — including a doubling of its product development team.
CEO Naveen Sharma told Tnooz:
“While we have been accelerating our growth, especially in the US, our main metrics are actually more focused on increasing customer satisfaction and bringing down churn. We have managed to significantly improve these metrics over the last 12 months.
Our success is mainly the result of our product-focused strategy, which has led to our customers receiving more direct bookings. We’re providing powerful tools that simplify our customers’ booking processes…. The funding will ensure that we can continue this path.”
Read original article
