HOMETIME SCORES $1.5M IN FUNDS TO CONSOLIDATE ITS POSITION IN THE SHORT-TERM RENTAL MARKET

Sydney-based startup Hometime, which manages short-term property rentals, including Airbnb listings, has closed a $1.5 million seed funding round led by tech accelerator Asia Principal Capital (APCL).

Founders Dave Thompson and Will Crock added APCL director Martin Dalgleish (the former chief executive of PBL Media) to their board as part of the deal struck with APCL.

According to Thompson, since launching in June, last year, Hometime has serviced over 500 properties and welcomed more than 15,000 across Sydney and Melbourne, growing its monthly use base ‘by double digits’. He spoke to Dynamic Business about his plans for scaling Hometime and outlasting competitors.

DB: How will the seed funding be used to scale?

Thompson: The capital will be invested in driving further growth in Sydney and Melbourne, where we currently operate, and opening up new markets – our processes are now well defined, so there’s an opportunity to plug and play into new cities with minor on-the-ground resources. We will also invest in enhancing our already sophisticated technology stack to include an owner dashboard, which will provide more transparency for hosts to review their earnings, occupancy and guest reviews. Read more

James Harkness - Dynamic Business - 11 Aug 2017