MyTwinPlace raises €750,000 round from Inveready, Sabadell

Several business angels and high-net-worth individuals also participated in the funding round, including BlaBlaCar co-founder Vincent Rosso.

The fresh funding will enable the company to further develop its platform and boost its presence in Spain, Italy, France, the UK and the US. Moreover, the company intends to pursue strategic partnerships to consolidate its position in those markets.

Sabadell Venture is the first dedicated venture capital fund managed by Sabadell. The vehicle targets investments in Spanish startups and aims to inject a €200,000-500,000 equity ticket in the first round and subsequently up to €1m in equity in a second round.

Company
Founded in 2013 and headquartered in Barcelona, MyTwinPlace has developed an online platform that allows travellers to exchange homes without money being involved.

The business employs 10 people and generates its revenues from a €9.90 fee attached to every transaction taking place on its website.

People
Inveready – Ignacio Fonts (managing partner).
Sabadell Venture Capital – Xavier Gàsquez (partner).
MyTwinPlace – Jean-Noël Saunier (CEO).

Advisers
Equity – PwC (legal).

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• Topics
• Expansion
• Technology
• Southern Europe
• Spain
• Inveready First Capital