Oct 9 London-based holiday rental service HouseTrip.com has raised $40 million in a rare joint investment of three leading venture firms in Europe, aiming to expand in Europe and beyond.
Accel Partners joined earlier investors Index Ventures and Balderton Capital in the latest funding round for the internet service which was founded in 2010.
Previously, HouseTrip.com had raised $20 million.
Like bigger rivals Homeaway and Airbnb, HouseTrip.com allows homeowners to rent out properties on a short-term basis. It lists 130,000 properties, compared with more than 200,000 for Airbnb and 735,000 for Homeaway.
By the end of 2012, travellers will have booked more than 3 million nights via HouseTrip.
"There are 4-5 million second homes in Europe. In this environment people are looking to get a yield on them," said Tim Bunting, partner at Balderton.