Hostaway secured 1.25 million euros from Vendep and Business Finland.

Finland Investments 12 November 2018
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Hostaway, a Helsinki, Finland and Toronto, Canada-based company providing a software platform for managing short term rental properties, announced that it raised EUR 1.25M ($1.4M) in capital investment.

The backers included Vendep Capital and Business Finland and the money will be used for marketing, product development, and expanding the team.

Hostaway, founded in 2015 and led by CEO and co-founder Marcus Räder, built a digital platform that allows rental managers to manage properties in one platform. The company offers the opportunity to advertise and manage their sites at the same time on the world's largest travel sites through one user interface. Hostaway was recently accepted in a Canadian accelerator, DMZ, based in Toronto and employs 30 people of 20 nationalities in offices from Barcelona, Helsinki, Melbourne, and Kiev—by January 2019.

In 2017, the company had net sales of around EUR 70,000, and for 2018 it estimates that it will earn a turnover of EUR 650,000.

Prior to this capital round, Hostaway was funded with about $1M.