Index et al. exit Onefinestay in €148m sale to AccorHotels

The hotel group has agreed to acquire the business for €148m and will invest a further €64m in order to ramp up its ongoing expansion plans.

All investors, aside from Onefinestay's founders and management team, will fully divest their stakes as part of the deal.

Since it first received backing from institutional investors, the business has undertaken an international growth strategy, most recently launching in Rome. It has also made a number of appointments to its senior management team.

Previous funding
Index has taken part in each institutional investment round raised by Onefinestay. The VC led a $3.7m series-A round for the company alongside ProFounders Capital in 2011, before taking part in a Canaan-led $12m series-B round the following year.

In 2013, Index led a further round of funding for the business, with participation from Intel - marking the first time Intel had invested in the consumer internet space.

Index, Intel and Canaan then took part in a $40m series-D round for the company in June 2015, bringing the total amount raised by Onefinestay to $80m.

Company
Founded in 2010 and headquartered in London, Onefinestay is an online marketplace for short-term rental accommodation. It aims to provide a luxury equivalent to rival platforms such as Airbnb and has a portfolio of 2,600 properties in London, New York, Paris, Los Angeles and Rome.

People
Onefinestay - Greg Marsh (CEO and co-founder).
AccorHotels - Sébastien Bazin (chairperson and CEO).
Intel Capital - Marcos Battisti (vice-president and managing director for western Europe).

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