Rental Start-up for businesss travelers MagicStay Raises 1.5M €
The short-term rental start-up for business travelers MagicStay.com, has just finalized a new round of fundraising to continue its development. Just four years since its release, the rental platform already offers 150,000 apartments in 90 countries and has taken a leading position in the alternative accommodation industry.
The fundraising totaling 1.5 million Euros was led by the start-up’s main shareholders (Michaël Benabou, Benoit Bassi, Patrick Lucas, Nicolas Quenedey or Charles Petruccelli, former CEO of American Express Global Business Travel…), as well as new investors, including Marc Frappier, Managing Partner of Eurazeo and Head of Eurazeo Capital, Thibault Basquin, Managing Director of Ardian, Nicolas Santi-Weil, CEO of AMI Paris… This round table will let the start-up accelerate its exclusive technological development for employees of large companies to book secure apartments as easily as hotel rooms, via either existing booking tools (Hotel Booking Tool, Self Booking Tool, Travel Management Company), or through the exclusive Weezard tool, the 1st Apartment Booking Tool, developed by the start-up with Travel Managers.
The start-up plans for strong growth in the French market before going global at the end of 2018… « We will further expand our accommodation offer to be a global player and meet the demands of our customers » says Valéry Linÿer, CEO of MagicStay. Coming soon, an offer adapted to extended stay, ideal for consultants and expatriates «HR lack a user-friendly and comprehensive tool to manage accommodation for their executives on the move», says Valéry Linÿer. MagicStay will also develop a special offer for extended stay and mobility, to facilitate the reservation of apartments for 1-month to 1-year periods, in terms of payment, contract, installation, etc.
After securing contracts with Societe Generale, NextRadio, Quicksilver, Havas Voyages, CDS, iAlbatros, H-Résa, other very important contracts are in their last phase of negotiation. « After the Travel Managers, we managed to convince the Security, IT and Legal Directors of major groups of the relevant service we provide to traveling employees, and to the company guaranteeing their safety», adds Valéry Linÿer.
About MagicStay :
Launched in 2014, MagicStay.com is the leading alternative accommodation site dedicated exclusively to business tourism. It provides more than 130,000 selected accommodations – apartments, studios, villas – meeting the requirements of business travelers and managed by professional agencies. The site won the Laurier BtoB Business Travel in 2015 and the Innovation Award – the Business offer of the tourist Echo in 2017.
Source: MagicStay press release