Smedvig Capital invests £3.5m in Vive Unique to accelerate growth
Smedvig Capital are delighted to announce our £3.5m growth capital investment in Vive Unique, the specialist home rental company which offers a fully managed service for London homeowners to rent out their homes whilst they are away. The average London home owner using Vive Unique’s service has received more than £1,000 per week.
With Vive Unique’s service, homeowners in London can now effortlessly earn extra income from their homes whilst they are away. Vive Unique manage every element of the process, from housekeeping to property management and around-the-clock customer service. Bespoke insurance is also included as a standard for homeowners.
For guests, the service is popular with families and business travellers who want a more homely experience with the convenience and comfort of a professionally managed service – a cost effective alternative to staying in a hotel or serviced apartment.
The market for short lets and holiday rentals in London is growing rapidly and is likely to account for a significant portion of the city’s large hotel market. Vive Unique has already shown impressive growth since it was launched in 2011 by co-founders Claire Whisker and Jonny Morris, and has already signed up hundreds of homeowners.
Smedvig Capital’s investment and hands-on support will accelerate Vive Unique’s plans to build out the existing team and to expand both homeowner and guest marketing activity. The team hope to grow quickly the number of homeowners and guests using the service.
Jordan Mayo, a Managing Director at Smedvig Capital commented, “We have been impressed by the rapid growth of Vive Unique, and the outstanding level of service delivered to both homeowners and guests. Following our previous investments in Streetcar and Zipcar, we are excited to be backing another business within the rapidly growing collaborative consumption space. We look forward to working with Jonny and Claire to reach their goal of becoming the number one short let and holiday rental provider in London.”
Jonny Morris, Vive Unique CEO, commented, “We are delighted to welcome Smedvig Capital as investors and see them as the ideal partner for our business. We are impressed with the success they have achieved at comparable technology-led service businesses and are excited by the expertise they bring with them. We are keen to invest in our technology and operations as we strive to bring outstanding levels of service and complete convenience to the home rental industry. We look forward to working closely with Smedvig as we pursue our vision for growth and innovation at Vive Unique.”