Holidu raises 37 million euros

The coronavirus pandemic has not harmed the Munich-based travel start-up: Holidu has raised 37 million euros in a recent financing round, bringing its total funding to 100 million euros.

The start-up Holidu has completed a successful series D financing round: the Munich-based company raised 37 million euros. The round was led by British venture capitalist 83North and also included existing investors such as Prime Ventures, EQT Ventures and Coparion. Claret Capital, formerly known as Harbert European Growth Capital, is providing both equity and venture debt, the amount of the loan is not known.

"We will use the financing to invest heavily in product development and double the size of our tech organization," says co-founder and CTO Michael Siebers. In addition, new branches for the Bookiply brand, under which Holidu offers software for vacation rental companies, are to follow.

The investment increases Holidu's total financing to 100 million euros. Despite the coronavirus pandemic and the slump in the travel industry, the travel accommodation platform has been able to make gains by renting out vacation homes in rural areas: "Despite the ongoing lockdowns in some areas, we have already recorded significantly more bookings for 2021 than before the pandemic in 2019 and we expect demand to rise sharply again this summer," says co-founder and CEO Johannes Siebers. Holidu is now active in 21 markets with ten locations worldwide. Last year, Holidu's search engine became operationally profitable, writes the start-up.