UnderTheDoor, a UK-based premium home-stay service for homeowners and guests providing hotel quality in the comfort of homes, has launched an equity crowdfunding campaign on Crowdcube and quickly secured £400,000 funding target from nearly 200 investors. The company is currently offering 6.03% in equity at a £6,543,878 pre-money valuation.
eAs previously reported, UnderTheDoor selects homes with character and personality to provide a local experience for its guests who visit on holiday or for business. For homeowners, UnderTheDoor 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.
“When guests travel they choose between two flawed options: a hotel room which lacks character, and peer-to-peer (P2P) rentals where standards are inconsistent. UnderTheDoormat solves this problem by providing the consistent quality and service of a hotel in the comfort of homes, delivered at scale.”
The launch on Crowdcube comes just one year after UnderTheDoor raised £458,949 through its Seedrs funding round. Key milestones include the following:
- One of 100 companies identified by Skift as globally shaping the short-term rental industry
- Major news presence incl. BBC, the Times, Guardian, Evening Standard, Huffington Post, Which?, Vogue & GQ
- Among the first 3 companies to partner with Expedia
- Custom, dynamic pricing model to maximise income
- Market-leading Lloyds of London insurance for all stays
- Custom tech-stack underpins website & automated operations
- First partners already signed to use UnderTheDoormat’s Distribution arm
- First company in the UK accredited by the government-backed Quality in Tourism scheme
- Last 12-month gross booking rev: £1.3m, up 72% on previous FY. EBITDA -£581,000
Funds from the Crowdcube round will be used to continue the growth and development of the UnderTheDoor platform. It is set to close at the end of October.
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