Indaco, Invitalia in €8m round for rental startup Sweetguest

Indaco invested via its Indaco Ventures I fund, which was launched in May 2018 with a €200m target. The vehicle has raised €134m so far from Intesa Sanpaolo, Fondazione Cariplo, Fondo Italiano d'Investimento, H-Invest and the firm's management.

Invitalia took part via its €87m fund Italia Venture I, alongside several Italian business angels.

Sweetguest intends to use the fresh capital to consolidate its market position in Italy, expand into new business segments and scale up its team.

Previous funding
Sweetguest raised €1m in seed funding in December 2016, and €1.5m in a series-A round in May 2018 from unnamed private investors.

Company
Established in 2016, Sweetguest offers a platform to optimise the management of short-term rental opportunities on AirBnb. It offers landlords a free valuation of their properties, helps them build a profile on AirBnb and manages renting, guest check-in and cleaning services.

The company is headquartered in Milan with additional offices in Rome, Florence and Venice, employs 90 staff and manages around 1,000 properties on AirBnb.

People
Sweetguest – Rocco Lomazzi (CEO, co-founder); Edoardo Grattirola (co-founder).
Indaco Venture Partners – Antonella Beltrame (co-founding partner).
Invitalia Ventures – Sergio Buonanno (CEO).

Advisers
Equity – Bird & Bird (legal).
Company – Orrick (legal).

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• Topics
• Expansion
• Southern Europe
• Real estate
• Venture
• Italy
• Orrick
• Bird & Bird