Collaborative travel startup MyTwinPlace raises € 750K investment round to revolutionize the way we travel

Barcelona, ​​04/28/16French-Spanish company MyTwinPlace has closed a € 750K funding round led by Inveready, Sabadell Venture Capital and various business angels, including French investor Vincent Rosso (ex-BlaBlaCar Spain).

MyTwinPlace is a collaborative travel startup that connects travelers with hosts in more than 160 countries to help them share their homes safely and without exchanging money. Thanks to a collaborative platform, our members host travelers from the community when they have availability, and enjoy free accommodation when traveling later on.

The lead business angel in this round Vincent Rosso is the co-founder of BlaBlaCar Spain. Both BlaBlaCar and MyTwinPlace belong to the collaborative economy, a high-impact and fast-growing market. “MyTwinPlace proposes an innovative community-based approach in the home sharing sector, in which members achieve significant savings thanks to their second homes. This market is expected to reach one billion nights by 2025,” said Rosso.

The participation of two of Spain’s top VC firms also confirms the potential of the MyTwinPlace’s unique business model, through which more than 35,000 travelers share their homes safely and without exchanging money. According to Inveready’s Managing Partner Ignacio Fonts, “the idea of ​​creating a virtual currency that lets people travel without paying accommodation costs will be a catalyst for the collaborative economy, even beyond vacation rentals.” According to Sabadell Venture Capital’s Xavier Gasquez, “it answers not only the traveler’s need to reduce the cost of their trips, in which accommodation accounts for 50%, but it also provides a solution to homeowners who during much of the year are unable to rent their properties through other platforms.”

The round will help further accelerate MyTwinPlace’s growth, CEO and French entrepreneur Jean-Noël Saunier explains:

“We plan to leverage the investment to strengthen our presence in countries where we are already strong, such as Spain, France, Italy, the United States and the United Kingdom. MyTwinPlace’s value proposition for travelers is unique in the world and has great potential in terms of user acquisition. We will also focus our growth efforts on offering a wider range of destinations. In addition, we will continue to close strategic alliances to add value for travelers beyond accommodation.”