Growth company investment specialist MMC Ventures has led an £850,000 investment in Love Home Swap, a burgeoning website which enables people around the world to exchange homes for their holidays.
Love Home Swap, founded by serial British entrepreneur Debbie Wosskow last October, currently allows members to swap properties in 70 different countries around the world.
The site already boasts 4,500 members, and has recently agreed a partnership with parenting website Mumsnet – opening up access to more than 4 million people.
Rory Stirling, Investment Director at MMC Ventures, said: “Love Home Swap exemplifies the qualities that we look for in any business that we back – a proven entrepreneurial team, compelling business model and a large underserved market.
“The business provides a fantastic value proposition to its users, which is demonstrated by its market leading product and highly engaged international user base. Quality and trust are essential parts of any successful collaborative model and we believe Love Home Swap has the ability to transform the home swapping market”.
Debbie Wosskow added: “Whilst home-swapping has existed since the 50s, no-one was doing it for a modern ‘Boutique Britain’ – those who love smart hotels and stylish home comforts.
“For the cost-conscious and travel-curious, home-swapping is the perfect fit. This investment will enable us to cater even better for the millions of cost conscious families and second home owners who are still keen to travel”.