Fast growing Love Home Swap raises additional £1m from MMC Ventures

World-first Swap Points system launched

     

Love Home Swap , the   stylish home swap holiday service, has announced today   that it has raised a further £1.025M follow-on funding from lead investor MMC Ventures - and at   the same time launched a revolutionary new Swap Points scheme, a   world-first within the Social Travel sector.

   

With the new Swap Points scheme, arranging   trips becomes even easier through the Love Home Swap site as members no   longer need to match exact dates and destinations with each other. They can   now pledge time in their property to a central bank. In exchange they receive   points that they can redeem to stay in other members' homes around the world   for free - without the cost of hotel bills to worry about. 

   

Love Home Swap now has more than 45,000   stylish properties listed in 150 countries worldwide, and has made strong   progress over the first half of this year. Listings have increased 5x and   revenues 3.5x, driven by rapid organic growth and the acquisition of a   leading competitor site, 1stHomeExchange.

 

The additional funding will be used to   invest in marketing, product development and new hires, particularly in the   areas of sales and customer service, as the business aims to double the   number of members it has over the coming 12 months.

 

 

 

Debbie Wosskow, CEO of Love Home Swap, said:   “We're excited to close this latest round of funding to help us continue to   scale the Love Home Swap business.  The   home swapping model is potentially the future of time-shares, a sector with a   long history that is looking to modernize fast and reach out to future   generations.  With our new Swap Points scheme, Love Home Swap   continues to innovate within the travel industry.  Our plan is to keep delivering what we do   best: ensuring that our members enjoy dream holidays in inspiring homes   around the world whilst saving thousands on hotel bills.”

 

 

 

Rory Stirling, Investment Director of MMC   Ventures, added: “MMC has always believed in Love Home Swap and is   pleased to be able to provide follow on funding for this high profile digital   business.  The move towards the   modernization of time shares is a smart one and reflects the foresight of the   strong management team.”

 

 

 

ENDS