Whimstay, a US-based marketplace provider for last-minute vacation rental bookings, has raised $10m in equity financing.
The company has not disclosed the names of the investors.
Go deeper with GlobalData
Proceeds from the equity financing will fund important new hires, build new products and add features to improve the search experience and guest engagement.
Extra features include more integrated dynamic pricing, boosted flexibility for guests and enhanced loyalty and rewards programmes, to name a few.
Around 50% of vacation rental nights are claimed to remain vacant annually and the lost revenue for property managers and owners marks a market opportunity worth $60bn.
Whimstay claims that it is well-positioned to book nights that would have gone without being rented.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe firm provides travellers with deals and savings on last-minute vacation rentals across North America.
It claims to offer better economics, greater guest-experience control, strong reporting and reconciliation and lower reliance on expensive channels for property managers and owners.
For property managers and owners, Whimstay is claimed to generate incremental bookings, revenue and profitability more than direct bookings and those drawn from other channels.
Whimstay CEO David Weiss said: “Propelled by our proprietary marketing engine, product features and functionality and unique go-to-market strategy, we’re able to attract incremental guests and generate incremental bookings for property managers and owners.
“We complement a property manager’s overall distribution strategy by providing specific capabilities and conducting specific types of missions, all focused on booking last-minute stays. As a result, bookings on Whimstay are up seven times year to day against the same period last year and March was our highest booking month in the company’s history.
“Guest traffic and bookings are further accelerating due to our recent integration into Google Vacation Rentals, giving us access to millions of potential guests.”
