Dila Capital in €8m funding round for ByHours

Alessia Argentieri
23 January 2020

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Mexican venture capital house Dila Capital and early-stage venture capital investment firm Angel Ventures have led an €8m funding round for ByHours, a Spain-based platform for booking hotel rooms by the hour.

New investor Credit Andorra and previous backers including Howzat Partners also took part in the round, which brings the total capital raised by the company to €18m.

ByHours plans to use the fresh capital to further consolidate its presence in Europe, Latin America and the Middle East, as well as to expand in the US. It expects to increase its turnover by 150% with the addition of more than 2,000 hotels to its portfolio by the end of 2020.

Previous funding
Following an initial seed round of €600,000 in 2013 from Cabiedes & Partners and Caixa Capital, ByHours raised $3.6m from Axon Partners, Catalan firm Lagobar and audiovisual group Mediaset Spain in April 2014.

Subsequently, Howzat and HR Ventures led a €1.5m funding round for the company in September 2016. Former Redalpine Ventures partner Roland Zeller also took part in the round as a private investor. Representatives from the VC backers joined the company's board, including Howzat partner Sascha Hausmann and HR Ventures investment director Ertan Can.

Searchbox, Innuvik Ventures, Naviswiss and Privilège Management invested €3m in the company in December 2017, alongside several business angels from Abu Dhabi, as well as previous backers Howzat, HR Ventures and Roland Zeller.

More recently, the company received an injection of an undisclosed amount from Sabadell Venture Capital, Caixa Capital and Axon Partners in March 2019.

Company
Established in 2012 and headquartered in Barcelona, ByHours provides an online platform that allows customers to book hotel rooms by the hour.

The company offers microstays of three, six and 12 hours in 3,000 hotels in 600 destinations across 20 countries and counts more than 250,000 users.

ByHours employs 62 staff in its two offices located in Barcelona and Mexico City. According to the company, 52% of its revenues in 2019 came from outside Spain.

People
ByHours – Christian Rodriguez, Guillermo Gaspart (co-founders).