MagicStay raises €3M to expand business travel accommodation rental service
06/20/2019|3:38:47 PM|PhocusWire

A Series A round of €3 million will be heading the way of MagicStay following financial backing from a group of individual investors.

The capital from representatives at Simmons & Simmons and Société Générale Corporate & Investment Banking brings the total put into the vacation rental booking platform for corporate travelers to €8 million.

The France-based company (profiled here) says it aims to sign 25% of the major companies in the country and have one million properties on its books by the end of 2019.

It also plans to raise a Series B round.

MagicStay currently has 400,000 homes in its portfolio and targets a range of options in the corporate travel sector, including direct sales to individuals, travel managers, business travel agencies and events organizers.

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