Press Release
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T-Venture Leads New Investment in 9flats.com
Europe’s leading short term lettings website attracts multi-million Euro funding and announces strategic partnership with ImmobilienScout24, Europe’s largest real estate marketplace Bonn, January 11, 2012 9flats, the leading European provider of private short-term rentals, has announced today that it has completed a major investment round led by T-Venture, the Venture Capital arm of Deutsche Telekom AG. 9flats.com aims to change the way people travel by providing private apartments as an alternative to hotels. Guests can book individual private places to stay and get a better experience at a lower price than with hotels. On the other side, hosts can earn additional income by renting out their room, apartment or house when they don't need it. The multi-million Euro funding round is lead by T-Venture, and includes additional participation by existing shareholders Redpoint Ventures (Menlo Park, California) and eVenture Capital Partners (Hamburg). Additionally 9flats.com will enter into a strategic partnership with ImmobilienScout24, Germany’s largest real estate marketplace. ImmobilienScout24 will contribute its online marketing competence and its know-how in building digital businesses. Stephan Uhrenbacher, CEO of 9flats explains the relevance of these steps: “This new round of financing will enable 9flats.com to scale our service across Europe and marks an important step for the company as it grows to become a global player in the online travel sector. T-Venture not only provides 9flats with additional funds, but through the separate partnership with ImmobilienScout24, we will be able to expand our audience in a significant way.” “The private accommodation market is an exciting segment of the real estate lettings market for ImmobilienScout24. This investment enables us to participate in innovative peer-to-peer business models at an early stage and will further strengthen our competitive position. We are delighted to cooperate with 9flats.com and T-Venture on this project” said Dr. Martin Enderle, CEO of Scout24 Holding and Senior Vice President Digital Services at Deutsche Telekom AG. Christian Leybold, General Partner at eVenture Capital Partners commented: “When we provided the seed capital for 9flats to Stephan Uhrenbacher just a little over one year ago, we were betting on a serial entrepreneur to help bring the emerging Internet business models of the “Sharing Economy” to Europe. We are excited to see the company’s tremendous success in such a short time and the enthusiastic response from consumers as this new way of “staying at home away from home” is being adopted across Europe.” |
