Smedvig Capital doubles investment into newly rebranded Veeve to $11m

Smedvig Capital are delighted to announce our follow on investment into Veeve (previously Vive Unique). It is an exciting time for Veeve who are launching a new brand and website following the appointment of key hires (CTO, CMO, CFO and Operations Director) and trebling of their property portfolio in 12 months.

Veeve, the home sharing service which helps London homeowners to earn effortless extra income while they’re away, have recently revealed their next phase of growth as a business and Smedvig Capital are thrilled to be playing a key role.

The investment coincides with the launch of the new brand and name: Veeve. Chosen for its simplicity and ability to be understood across many languages and cultures, it reflects the diverse international make-up of the company’s guests. Veeve is also rooted in its origins as Vive Unique.

With this new brand and name comes a new website; www.veeve.com. It is a responsive site that showcases the range of London homes Veeve has to offer whilst bringing the brand and experience up to date.

Launched in the run up to the Olympics, Veeve have since signed up over 1,000 London homes and now manage a portfolio worth over £1 billion. With more than 3,000 rooms available to guests, the company already rivals the city’s largest hotels in terms of inventory.

Unlike other home sharing models, Veeve manages all aspects of the rental on behalf of both guests and hosts. This allows homeowners to unwind on holiday while Veeve takes care of everything at home. Meanwhile, leisure and business travellers enjoy all the conveniences of a city home with Veeve’s added selection of home comforts (e.g. fridge fills, babysitting and a maid service to name a few).

Newly represented by a hummingbird logo, Veeve is dedicated to making stays effortless for hosts and guests. The additional funding consolidates Veeve’s position in London, as they continue with their goal of making home sharing as easy as possible. Now following the investment and subsequent relaunch of the brand and release of their new website, proceeds will be used to build out Veeve’s mobile logistics platform, develop the customer experience and drive further growth in home and guest acquisition.

The extended investment follows four key hires within the senior management team this year: Chief Marketing Officer Matt Knight joined from ASOS (and previously Ocado); Joe Warren-Meeks joined as Chief Technology Officer from Encore Tickets; former McKinsey consultant Lex Kereng recently joined the company as Operations Director. Andrew Parker joins as CFO from Badoo and previously PwC. Carl Michel, previously of Opodo, British Airways and Generator Hostels, has also joined the business as Chairman.

This is a great time to be working in the sharing economy and with our continued partnership with Veeve going from strength to strength, Smedvig Capital are delighted to be part of it.

Jonny Morris, Co-Founder and CEO of Veeve commented:
We are hugely excited to take the brand forward in a way that communicates our commitment to making home sharing an easy and seamless experience and one which is inspiring too. We are delighted to continue our partnership with Smedvig Capital with this latest round of funding, as we look to the next phase of rapid growth at Veeve.

Jordan Mayo, Managing Director of Smedvig Capital added:
We are delighted to be increasing our investment in Veeve. Founders Jonny and Claire have attracted a top tier management team whilst rapidly scaling the business. We look forward to supporting the team in their plans to become London’s leading managed home sharing service and to expand into other geographies.