Overfunding: Home-Stay Service UnderTheDoor Quickly Secures £200,000 Funding Target on Seedrs

UnderTheDoor, a UK-based premium home-stay service for homeowners & guests providing hotel quality in the comfort of homes, has successfully secured its initial £200,000 funding target and now nearing £400,000 through its equity crowdfunding campaign on Seedrs.

Founded in 2014, UnderTheDoor notably selects homes with character and personality to provide a local experience for its guests who visit on holiday or for business. The company noted that for its homeowners, it manages the homes while they are out of town, providing peace of mind and a hassle-free additional source of income from their most important asset.

“In our view, current homestay services are heavily focused on the self-managed market, often through Airbnb, where homeowners manage their own home listing with varying degrees of quality and security. We feel that there is an underserved market for guests who want the comfort of a real home as well as the service of a hotel, and for high-end homeowners who simply won’t let their home out without the experience being fully managed, insured and effortless.”

UnderTheDoormat reported it is now generating over £1 million in revenues annually and it is now looking to take the business to the next stage in London and open in other major cities in Europe. Funds from the Seedrs round will be used for the following:

  • Home acquisition and accelerate home acquisition through direct-to-consumer marketing campaigns and partnerships with major B2B property companies.
  • Broaden the guest base and significantly increase direct guest acquisition by building UnderTheDoormat.com into a destination booking website and continuing to build out high-value direct booking channels such as travel management companies.
  • Improve the hospitality experience for homeowners and guests even further to fully own the premium space, keep home retention and guest reviews very high, increase referrals and grow the transaction for increased direct bookings.

The company then added:

“We’ve reached a critical stage in London having secured major distribution partnerships and a very robust operational model. The challenge now is to make a significant investment in growing the rate of home acquisition and further improving our quality service so we can own the luxury-in-a-home space.”

The campaign is set to close later this fall.

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