NightSwapping brings in Euro 2 million, targets one million members
Alternative accommodation-with-a-twist service NightSwapping has landed a Euro 2 million funding round from the Duval Group and 6eme Sens Participation.
Alternative accommodation-with-a-twist service NightSwapping has landed a Euro 2 million funding round.
The France-based company, which allows travellers to use credits that are then redeemed in private properties when on-the-road, secured the investment from the Duval Group and 6eme Sens Participation.
A group of business angels and the Public Bank of Investment in France also participated in the round.
The round follows a Euro 2 million funding for the company in September 2014.
The company started out as Comopolit Home (TLabs here), under founder Serge Duriavig, but later changed its name to NightSwapping.
Although the business has seen most of its growth in Europe it also now plans to develop its portfolio of properties in North America.
It also has an aggressive plan to boost member numbers to one million within the next two years, up from its current level of 180,000 in 160 countries.
The investment will also be used to develop its platform on desktop, mobile and tablet devices.
Here is a clip to explain how it works.
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