Investec invests $6 million in MadeComfy

Investec invests $6 million in MadeComfy
Investec invests $6 million in MadeComfy

The short-term rental management company MadeComfy has raised $6 million from the South African wealth group Investec.

MadeComfy manages properties for homeowner investors renting them out on short-term rental platforms such as Airbnb in return for a commission of 20 per cent or more.

David Phillips, the head of emerging companies at Investec, said its missed the Airbnb opportunity so instead are involved in MadeComfy.

The new capital would allow MadeComfy to expand beyond its 500 properties in Sydney.

It now has around 100 properties under managements in Melbourne since it expanded last November.

It is aiming to manage 3500 properties by 2020.

MadeComfy co-founder Quirin Schwaighofer said the company was prepared for any regulatory changes that might emerge after NSW government review of the home-sharing industry,

Fairfax media reported MadeComfy has partnered with the Dee Why branch of real estate agent Raine & Horne and Belle Property agencies in Mosman and Neutral Bay to provide home management services to landlords who want to rent out their property on Airbnb rather than renting them out to long-term tenants.

MadeComfy is also experimenting with working with hotels partnering with the Ovolo hotel in Darling Harbour, which provides check-in service, free wi-fi and discounted breakfast for Airbnb guests who book through MadeComfy.

The $6 million capital injection will make Investec the biggest minority shareholder in MadeComfy.

Mr Schwaighofer and co-founder Sabrina Bethunin will still have the majority stake in the company.

Last year, the company raised $1.1 million from investors including former LinkedIn Australia chief executive Cliff Rosenberg.
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Airbnb Madecomfy

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