Short-term rental and property management platform MadeComfy has raised $10 million in fresh funding.
Investment in the Australia-based company was led by Commencer Capital with MC Fiduciary, BridgeLane Capital and private investors also participating.
The company, which was founded in 2015, has also appointed Simon Lehman as its chair.
Lehman was formerly co-founder and chairman of Vacasa Europe and a board member of HomeAway.
Subscribe to our newsletter below
The funding will go towards expansion across Australia as well as further development of MadeComfy’s technology and data analytics platform.
The company said it has “roared back to life over the past year, becoming EBITDA positive and exceeding $20 million in annualized revenue with an annual growth rate of over 120%.”
“Tourism and corporate travel in this country have bounced back strongly and we’ve fully capitalized on it. Over 250 companies now use our platform to find and book accommodation,” said Quirin Schwaighofer, co-founder and co-CEO of MadeComfy.
“We’re now unlocking new avenues for growth, including upgrades to our B2B platform, expanding to new locations with New Zealand as our first international expansion, and securing more corporate partners.”
Despite an overall slowdown in travel startup funding, the short-term rental segment continues to pique investor interest with Whimstay, Kindred and Holiday Swap all announcing rounds in recent weeks.
Phocuswright Europe 2023
Just how much has traveler behavior permanently changed and will rentals ever surpass hotels? Join us in Barcelona to hear predictions from industry experts.