Pentech et al. in £3m round for TravelNest

The fresh capital will enable the business to undertake a recruitment drive in its engineering team and to invest in product development.

Former SkyScanner COO, Mark Logan, also took part in the round and will take a seat on the company's board, alongside Pentech partner Craig Anderson.

The deal is the first investment made by both Pentech's third fund, which closed on £88m in July 2017, and Mangrove's fifth fund, which held a first close on $170m also in July.

Company
Founded in January 2017, Edinburgh-headquartered TravelNest is a holiday homes advertising platform for landlords. It lists properties and coordinates bookings across numerous online sites, including AirBNB, TripAdvisor, Secret Escapes and Bookings.com. The platform is free of charge to landlords and the company generates revenue through commissions from the third-party booking sites.

TravelNest has a headcount of 20.

People
Pentech – Craig Anderson (partner).
Mangrove Capital Partners – Hans-Jürgen Schmitz (co-founder, managing partner).
TravelNest – Doug Stephenson (CEO).

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