Veeve secures $11m from Smedvig Capital to expand its managed home sharing platform.
The follow-on investment will fund mobile platform development and customer experience improvements following a corporate rebrand.
≈ £7.3M at $1 = £0.6613 on 10 Nov 2015
Veeve is a London-based managed home sharing service that enables homeowners to rent out their properties while they are away. The company handles all aspects of the rental process for both hosts and guests.
Veeve has secured $11m in follow-on funding from Smedvig Capital to support its next growth phase following a company rebrand from Vive Unique. The capital will be allocated towards building out the mobile logistics platform, enhancing customer experience, and driving further home and guest acquisition.
The funding coincides with a period of rapid expansion that has seen the company triple its property portfolio within twelve months and assemble a senior management team featuring hires from ASOS, Encore Tickets, McKinsey, Badoo, and PwC. Veeve now manages a London property portfolio valued at over £1bn.
The business provides end-to-end management for short-term lets, offering hospitality services to guests while managing operations for homeowners during their absence.
From the founder
"We are hugely excited to take the brand forward in a way that communicates our commitment to making home sharing an easy and seamless experience and one which is inspiring too. We are delighted to continue our partnership with Smedvig Capital with this latest round of funding, as we look to the next phase of rapid growth at Veeve."
Jonny Morris
Co-Founder and CEO at Veeve
Investor perspective
"We are delighted to be increasing our investment in Veeve. Founders Jonny and Claire have attracted a top tier management team whilst rapidly scaling the business. We look forward to supporting the team in their plans to become London’s leading managed home sharing service and to expand into other geographies."
Jordan Mayo
Managing Director, Smedvig
Use of funds
- 01Continue product development
- 02Fund acquisitions
Investors
Categories
About the company
Veeve
Managed home sharing service for London homeowners and travellers.