Onefinestay Raises $12 Million to Launch New York City Property
Onefinestay has raised $12 million in Series B financing led by U.S. venture capital firm Canaan Partners. Existing investors Index Ventures and PROfounders also participated in this round of funding, which brings onefinestay's total capital raised to date to $16 million and will be used to support the company's launch in New York City and other international expansion plans.
First launched in London, the complete onefinestay service provided to members, from marketing and photography to insurance, cleaning and provision of linens, has proved extremely popular. In May 2010 onefinestay launched in London with just six members' homes. Two years on, the company manages over 500 upscale homes, and exclusively manages a property portfolio worth over $1 billion. The company's revenues increased 10-fold in 2011, and this growth is today supported by a dedicated team of over 100.