The apartment rental platform dedicated to business travelers, MagicStay, announces a round of 3 million euros in Series A from private investors. This funding brings to 8 million euros the funds raised by the company since its creation in 2013.
Founded by William Lecerf and Valéry Linÿer, MagicStay today boasts a portfolio of more than 400,000 homes across the world, an increase of more than 100%.
One million homes before the end of the year
MagicStay places its development at the crossroads of two market trends: the new trend of wanting to feel at home when traveling, even in a professional setting, and the desire for companies to save money. “L‘bringing a range of apartments, secure and managed by professionals, makes it possible both to meet a growing demand from travelers to be’ at home ‘, and at the same time to obtain crucial savings on this budget item which represents a quarter of business travel expenses“, Explain Valéry Linÿer.
A new way of traveling that was driven by the emergence of Airbnb, which very quickly saw the opportunity that business travel also represents for its platform by devoting a dedicated section to them.
Note that all accommodation offered by MagicStay is managed by professionals. The team is made up of 20 people in France, Germany and Madagascar.
With this lifting, MagicStay plans to recruit to accelerate its growth with the objective of signing a quarter of large French companies and approaching one million homes before the end of the year. The start-up also has its sights set on the international market.