This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Onefinestay Raises $12 Million In Funding To Launch Unhotel In New York City

Stocks in this article: ACTV APKT SFSF

LONDON, June 27, 2012 /PRNewswire/ --

onefinestay, the world's first unhotel, a new category of upscale accommodation, which lets visitors stay in a distinctive home while the owner is out of town, has raised $12 million in Series B financing led by US venture capital firm Canaan Partners. Existing investors Index Ventures and PROfounders also participated in this round. This funding brings onefinestay's total capital raised to date to $16 million and will be used to support the company's launch in New York City and other international expansion plans.

"Two years ago, we hardly dared dream that owners of high-end homes would be so receptive to our business model," says co-founder and CEO of onefinestay, Greg Marsh. "But today with hundreds of members in London together making many millions a year, many thousands of satisfied guests, and the support of leading investors, we are hugely excited about our US launch and international expansion. With an extraordinary range of homes to choose from, we are able to offer the same promise to visitors to New York as we have to visitors to London: live like a local."

onefinestay redefines the experience of city travel by combining the distinctive character of a beautiful private home with a service that offers the convenience and comforts of a high-end hotel. While guests enjoy living like a local, host members benefit by earning additional income from a house or apartment that would otherwise sit vacant. Hundreds of hosts in London today enjoy the flexibility of using their own homes when in town and, despite the fact that none is a professional landlord, many are already earning significantly more than $50K a year.

First launched in London, the complete onefinestay service provided to members, from marketing and photography to insurance, cleaning and provision of linens, has proved extremely popular. In May 2010 onefinestay launched in London with just six members' homes. Two years on, the company manages over 500 upscale homes, and exclusively manages a property portfolio worth over $1bn. The company's revenues increased tenfold in 2011, and this growth is today supported by a dedicated team of over 100.

The company's success has helped attract top tier international investors, including leading global venture capital firm Canaan Partners, which led the Series B funding round. Warren Lee from Canaan Partners joins the board, and said: "We are thrilled to be leading this round. The onefinestay team are talented, driven and insanely ambitious. We share their belief that there will be an unhotel in every major world city, and look forward to supporting their growth."

onefinestay's Series A funding was led by leading venture capital firm Index Ventures with participation from PROfounders Capital, and included some of the foremost players in the travel and hospitality industry, such as Brent Hoberman, co-founder of; Andy Phillips, co-founder of Active Hotels; and David Magliano, former Director of Marketing for London's successful 2012 Olympic bid.

Greg Marsh said, "We are pleased to welcome Canaan Partners as investors to the company. Canaan has outstanding bi-coastal presence in the US, and we particularly value their New York profile. We look forward to working with them to execute the next phase of our growth - our launch in New York."

onefinestay's launch in New York is the first stage in a wider strategy of international expansion, with ambitions set on having an unhotel in every major world city.

About onefinestay

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,356.87 +288.00 1.69%
S&P 500 2,012.89 +40.15 2.04%
NASDAQ 4,644.3120 +96.4780 2.12%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs