MagicStay Raises €3 Million to Accelerate Its International Development
The apartment rental platform dedicated to business travelers, MagicStay.com , announces its full integration into the main business travel booking tools and a €3 million A-series to pursue its development, bringing the amounts raised to more than €8 million since its launch in 2013.
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"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, who adds: "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...".
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 , which develops exclusive connectivity technology for the main players in Business Travel: security (iSOS, SSF, Anticip, iJET...), payment (Amex BTA, Airplus...), OBT (Concur, KDS...), TMC... and real-time tools to connect real estate agencies worldwide, announces that it has reached a portfolio of over 400,000 homes worldwide, up more than 100%.
According to CWT, hotel rates will increase by 6.8% in 2019, putting pressure on corporate travel policies. "The provision of an offer of apartments, secured and managed by professionals, makes it possible both to meet the growing demand of the traveler to be "as at home", and at the same time to obtain crucial savings on this budget item which represents a quarter of the expenses of business travel. " says Valéry Linÿer.
Jérôme Patenotte and Sophie Mesnier Teissèdre (Simmons & Simmons) and Florent Guillermain and Rodolphe Besserve (Société Générale Corporate & Investment Banking SGCIB) completed the transaction.
MagicStay is already in the process of preparing a B series.
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