Canaan leads $12m round for onefinestay

Previous investors Index Ventures and PROfounders Capital also contributed to the round.

The fresh capital will underpin the company's international expansion, beginning with a launch in New York.

Previous funding
In March 2011, Index led a $3.7m series-A funding round for onefinestay. PROfounders also contributed to the round.

Company
Founded in 2010 and based in London, onefinestay provides homestay accommodation in London. Members are able to rent properties while the owners are absent, and are provided with recommendations regarding the local area and an iPhone to use the firm's app. Hotel-style amenities and services are also provided by the firm.

The firm reported a tenfold increase in revenues in 2011 and currently employs 100 members of staff.

People
Warren Lee is a general partner at Canaan and will join the onefinestay board. Robin Klein, venture partner at Index, already sits on the board.

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• Topics
• UK / Ireland
• Consumer
• Expansion
• United Kingdom
• Index Ventures