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A Series A round of €3 million will be heading the way of MagicStay following financial backing from a group of individual investors. The capital from representatives at Simmons & Simmons and Société Générale Corporate & Investment Banking brings the total put into the vacation rental booking platform for corporate travelers to €8 million. The France-based company (profiled here) says it aims to sign 25% of the major companies in the country and have one million properties on its books by the end of 2019. It also plans to raise a Series B round. MagicStay currently has 400,000 homes in its portfolio and targets a range of options in the corporate travel sector, including direct sales to individuals, travel managers, business travel agencies and events organizers. |
