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Local company obtains 34 million euros from Silicon Valley

Spotahome's founders: Bruno Bianchi, Brian McEire, Alejandro Artacho and Hugo Monteiro.
Spotahome's founders: Bruno Bianchi, Brian McEire, Alejandro Artacho and Hugo Monteiro. / SUR
  • Spotahome, a platform for renting homes and rooms for periods of more than a month, already employs 200 people and plans to expand further

Spotahome, the company set up by Estepona entrepreneur Alejandro Artacho and three partners, has just obtained 34 million euros of financing from a firm in Silicon Valley.

This is the fifth round of financing in just four years for Spotahome, a platform for renting houses, apartments and rooms for stays of longer than one month. One of Malaga's start-ups with the highest exponential growth, the Spotahome Group is now the leading intermediary for online rentals, with a portfolio of more than 130,000 properties in 450 locations in 65 countries. Three million people a month visit the site to look for somewhere to stay.

The platform, which charges the tenants and the renters, had generated 45 million euros of business by mid-2017. It is known for providing exhaustive information about the properties and their locations, top quality videos, 360º photos, maps and descriptions.

This latest financing operation is led by the Kleiner Perkins investment fund; it is the first time it has operated in Spain but this is its fifth operation in Europe, where it has supported projects such as Spotify and GoEuro.

Spotahome was founded in 2014 by Alejandro Artacho, Bruno Bianchi, Bryan McEire and Hugo Monteiro and its visibility among international investors soared two years ago with a presence at South Summit, the biggest entrepreneurs fair in southern Europe. The new injection of capital will be used to invest in new products, better technology, appoint senior managers to handle the expansion plan and improve customer service even further.