ONLINE short-term rental accommodation provider Roomorama.com, which is headquartered in Singapore, has merged with Lofty.com, a Europe-focused short-term rental site, in the process generating US$2.1 million in seed funding.
“By combining the strengths of both companies, Roomorama will now be the leading marketplace for mid-range to high-end rentals,” said Fabrice Grinda, founder of Lofty.
Incoming investors include Jose Marin, PROfounders Capital, Lerer Media Ventures, and Thrive Capital Partners.
According to a press statement, Roomorama registered an average gross booking value of US$1,330 last year, with over 80 per cent of bookings for 8-14 nights.
Booking statistics from Roomorama also revealed that the number of APAC travellers booking their accommodation via the platform had tripled as compared to when the company first expanded into the region in 1Q2011.
Roomorama currently lists 50,000 private properties in more than 3,600 locations worldwide, and is aiming to more than double its inventory by end-2012, with over 20 per cent of listings in Asia Pacific.