French startup Le Collectionist has raised 60 million euros (about $63 million) for its vacation rental platform.
Users of Le Collectionist can browse luxury properties from across the globe, EU Startups reported Friday (Dec. 2). The capital will enable the firm to expand its teams in Paris, the South of France, Barcelona, Ibiza and Switzerland, as well as to open new offices in London and New York City.
Since 2020, demand for its properties has risen four-fold, according to the report. The startup partners with owners of 1,800 properties across 30 destinations.
“Holidays are about creating memories and sharing once-in-a-lifetime moments with the people we love,” said Le Collectionist Co-founder Max Aniort, per the report. “This is what lies at the heart of everything we do at Le Collectionist. We want our guests to be given the best experiences and the attention they deserve to embrace and share precious time with family and friends.”
The latest funding round was led by Highland Europe with participation from existing investor Red River West, some family offices, angel investors and the Swiss banks Pictet and Lombard Odier, the report stated.
Previously, the company acquired a range of global tourism and real estate firms to bolster its international offering. Beyond property rental, the company partners with local experience providers, restaurateurs, chefs and other local artisans in order to create a more personalized vacation experience, according to the report.
While Le Collectionist’s recent funding suggests the luxury travel market is proving resilient in the face of a global economic downturn, pressure on budgets will no doubt be informing many people’s vacation decisions.
To help holidaymakers better manage their spending, travel firm Expedia launched a buy now, pay later (BNPL) product last month that enables customers to pay for their hotel and flights in installments.
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