MMC's Love Home Swap in bolt-on
MMC Ventures-backed Love Home Swap has acquired Canadian competitor 1stHomeExchange.com as a bolt-on.
The acquisition has tripled the property exchange service's portfolio to 35,000 homes in 150 countries. MMC first backed Love Home Swap in January 2012, with a follow-on round last November. The firm is reportedly looking at making further bolt-on acquisitions.
Company
Love Home Swap, launched in October 2011, allows for its members to swap homes across 70 countries. It generates revenue from the sale of annual memberships, currently issued at £99. A premium service with added-value concierge services is sold for £199 per annum.
The company is based in London, UK.
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