Skift Take
Summer wants to help people buy vacation rental homes, and Raus wants to help people take a break from big cities.
Travel Startup Funding This Week
Each week we round up travel startups that have recently received or announced funding. Please email Travel Tech Reporter Justin Dawes at [email protected] if you have funding news.
Four travel tech startups have announced fundraises of over $29 over the past week.
>>Summer, a startup founded by former Airbnb employees to help buyers purchase and manage vacation rental homes, has raised $18 million in a series A round. Summer also secured $50 million in debt from Setpoint Capital.
The venture capital round was led by QED and Viola FinTech, with support from Lightspeed Venture Partners, 1Sharpe Ventures, CT Innovations, Alumni Ventures, Elizabeth Street Ventures, Merrimac Corporation, Gaingels, Firstminute Capital, and Not Boring Ventures.
The company said it has now raised $30 million in venture capital.
New York City-based Summer said it purchases homes for short-term rentals on behalf of clients. The clients make an initial payment and then continue with monthly payments, with the option to walk away after two years. After the purchase, Summer property managers handle the short-term rentals business on behalf of the client. Services include finding the property and interior design and setup.