Short-term rental platform, MadeComfy, has raised $10 million in a combination of VC funding and debt. The round was led by Commencer Capital and joined by MC Fiduciary, BridgeLane Capital and private investors. It previously raised $1.1 million in 2017 and $6 million in 2018.
Founded in 2015, MadeComfy is designed for flexible accommodation options in the short-term rental market. According to the company, the round will be used to expand further across Australia as well as upgrade its tech and analytics platform.
“When the COVID-19 pandemic set in, our focus shifted from growth to survival. We knew that retaining our team at all costs would determine our ability to thrive on the other side of the crisis. We implemented flexible hours across the workplace, loaned our team members to other startups in surging industries — such as food delivery — and fully utilised JobKeeper,” MadeComfy’s co-founder and co-CEO, Quirin Schwaighofer, said in a statement.
“The strategy worked, and MadeComfy is now stronger for it. Tourism and corporate travel in this country have bounced back strongly and we’ve fully capitalised on it. Over 250 companies now use our platform to find and book accommodation. We’re now unlocking new avenues for growth, including upgrades to our B2B platform, expanding to new locations with New Zealand as our first international expansion, and securing more corporate partners.”