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.
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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.
Companies using the platform include Michelin, Vinci, Cisma and Bermaplast.
It took a €1.5 million venture round in early-2018 and, a month later, signed a deal with Accor-owned OneFineStay to include 1,000 of its corporate travel-focused properties in London, Paris, New York and Los Angeles.
The platform was founded by William Lecerf and CEO Valéry Linyer,