Howzat et al. back Byhours with €1.5m funding

Former Redalpine Ventures partner Roland Zeller also invested in the funding round as a private investor.

Representatives from the new VC backers have now joined the company's board, including Howzat partner Sascha Hausmann and HR Ventures investment director Ertan Can.

According to press reports, Guillermo Gaspart Bueno, heir of the Spanish hotel group Husa, was nominated as the company's chair.

The company reportedly expects a larger funding round ranging between €6-8m in the first quarter of 2017. The management team aims to use the fresh capital from both rounds to expand the business internationally.

Company
Founded in 2012, Byhours develops an online platform that allows customers to book hotel rooms by the hour. The company is headquartered in Barcelona and employs a staff of 25.

According to local press reports, the company generated turnover of €3.1m in 2015 and expects to post €5m in revenues in 2016.

People
Howzat Partners – Sascha Hausmann (partner).
HR Ventures – Ertan Can (investment director).
Byhours – Christian Rodríguez (founder, CEO); Guillermo Gaspart Bueno (chair).

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• Topics
• Expansion
• Technology
• Southern Europe
• Spain
• Venture