Sunday, March 3

French Rental Platform raises $3.3 million

PARIS, France: The apartment rental platform dedicated to business travelers, MagicStay.com raises $3.3 million series A to pursue its development.

The total funding raised by Magicstone so far is $9 million since its launch in 2013.

“This fundraising will allow us to recruit talent to accelerate our growth. We want to sign a quarter of the major French companies and approach one million homes before the end of the year, thanks to the exclusive technologies we now have at our disposal”, says Valéry Linÿer, CEO and co-founder.

“We have four main advantages over our competitors, we meet the challenges of duty of care, we are able to customize our tool to meet the constraints of each large company for short and long stays, we have 24/7 customer service with quality processes and traveler support and we are the only ones compatible with the protection of travelers’ personal data”, he added.

The international focus “The business travel market is essentially global in nature, and so are global players. MagicStay.com is proud to be part of this community, and our technology now allows us to accelerate our international presence,” adds William Lecerf, co-founder.

MagicStay.com announces that it has reached a portfolio of over 400,000 homes worldwide, up more than 100%.

Jérôme Patenotte and Sophie Mesnier Teissèdre (Simmons & Simmons) and Florent Guillermain and Rodolphe Besserve (Société Générale Corporate & Investment Banking SGCIB) participated in this funding round.

The rental platform is already in the process of series B round.