With a recent investment round tallying £2.1 million, Snaptrip has acquired Last Minute Cottages and is expanding its footprint in the United Kingdom’s holiday rental market.
Existing backer Bestport Ventures led the funding round, which also included Snaptrip institutional shareholder Forward Partners; Active Hotels chief operating officer Matthew Witt was among the angel investors.
Through the acquisition, Snaptrip – which offers last-minute, discounted rental properties – will begin working with individual homeowners in addition to its inventory of professionally managed agencies.
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The investment will also fund new marketing initiatives as well as the startup’s expansion into mainland Europe.
"This acquisition demonstrates our commitment to the last-minute cottage market, and our focus on dominating the huge opportunity to help managers and owners of holiday rental properties to sell off unsold inventory for spontaneous, bargain hunting consumers," says Snaptrip CEO Matt Fox.
Founded in 2014, Snaptrip claims to have seen more than 130% growth year on year. In total the company has raised £4.2 million in equity funding.