Short-term rental technology provider Xotelia has secured close to $1.4 million (Euro 1.3 million) in a debut capital raising effort.
Launched in 2012, until now the France-based software company, which also works with smaller properties such as B&Bs and guest houses, was self-funded and had private loans.
Paris and San Francisco-headquartered private equity firm Newfund Capital is behind the new injection of funds into Xotelia (TLabs here).
The company says it will use the financial support to grow its customer base around the world and develop connections to consumer-facing services such as Expedia and Booking.com
In mid-February this year, Xotelia said it had around 1,200 properties being managed by subscribers, with some 35,000 properties being forecast by the end of 2018.
The Xotelia agreement is Newfund's 40th investment, joining the likes of MobPartner and Tageos on the client roster.