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onefinestay raises $40m to help fund international expansion

Written by Adam Pescod on Monday, 29 June 2015. Posted in Investment, Finance

The luxury accommodation start-up also adds some key personnel to its senior management team as its total investment passes the $80m mark

onefinestay raises $40m to help fund international expansion

People heading off on their holibobs nowadays are blessed with a vast array of accommodation options and, thanks to some revolutionary start-ups on both sides of the pond, the choice has never been greater for holidaymakers. While San Francisco's Airbnb is helping people rent out their houses, apartments, boats, or even igloos, to intrepid travellers at a price that's beneficial to both parties, London start-up onefinestay has its eyes on a totally different audience; connecting the owners of luxury accommodation to those of us who have a little more money to spend. 

Both businesses have grown rapidly in recent years although it's safe to say Airbnb has grabbed most of the headlines, primarily because it's valuation currently stands at an eye-watering $13bn. But that's by no means to do down the achievements of onefinestay. After all, it has just completed a $40m series D funding round led by the likes of Intel Capital, Quadrant Capital Advisors and Hyatt Hotels, which takes the total capital raised by the start-up past the $80m mark. 

The company has also added some key personnel to its senior management team as it looks to grow its presence in existing markets and ramp up its international expansion. Tom Singer, former group CFO at InterContinental Hotels, has joined onefinestay as chief financial officer and he is accompanied by Nick Ruotolo as chief commercial officer; Petros Demetriades as chief technology officer; Dan Atkinson as group vice president, people; and Scott Verney as general manager of London. 

“Over the past five years we’ve transformed the experience of upscale hospitality, creating a compelling new way to make yourself at home in the world’s greatest cities," said Greg Marsh, co-founder and CEO of onefinestay. 'I’m delighted to welcome Tom, Nick, Petros, Dan and Scott, whose leadership will be crucial to the next phase of our growth.” 

Five years on, it seems the world is well and truly onefinestay's oyster.  

About the Author

Adam Pescod

Adam Pescod

EB's former editor, Pescod was tasked with ensuring these hallowed pages are rich with excellent, engaging and error-free stories, all written with the entrepreneur in mind. Pescod previously plied his trade penning pieces about pubs and pints. He is also a sucker for alliteration. 

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