Australian Airbnb property management startup Hometime raised another $6.7 million

Hometime, Airbnb’s leading property management partner in the APAC region, has raised a further $6.7 million on top of a recent $6 million funding round completed in May 2019.

The round includes NAB Ventures, backed by one of Australia’s largest banks.

In addition, Hometime has completed two more acquisitions in the most recent quarter - Host My Home in Cairns and bnbpal in Melbourne.

NAB Ventures and AS1 Growth Partners said Hometime’s rapid expansion combined with its scalable business model in a high growth sector attracted them to the company.

Further, a strategic alignment between National Australia Bank and Hometime businesses could see NAB’s retail customers access Hometime’s services to build alternative income streams for their investment properties.

Co-Founder & COO of Hometime, William Crock, said Hometime will use the additional funds to rapidly accelerate growth through acquisition and market expansion - both in Australia and internationally.

Mr Crock said, “the global short stay property rental market will approach US$115 billion in 2019 compared to approximately US$40 billion in 2010 representing an average annualised growth of 13%. As the largest and fastest growing operator in Australia we plan to capitalise on these tailwinds and drive further growth over the coming years as the market matures and consolidates."

“Hometime now supports home owners in nine cities across Australia and New Zealand with many more on the horizon," he added.