Short-term property management software company Superhog has picked up £5.5m in its Series A funding round.
Based in London, Superhog has created a platform to screen guests during short-term stays to prevent fraud.
Guests and hosts are verified by allowing their mobile phone operator to disclose details including name, address, billing method, device type and others.
Data from Action Fraud shows that losses from holiday fraud rose by 41% year-on-year.
Self-described as “know your guest”, Superhog says it has over £5m in annual recurring revenue from its 800+ property company users.
Superhog’s Series A round was led by Hambro Perks, 6 Degrees Capital and Solano Partners.
“Superhog blew us away with their incredible growth in recent years,” said Lucas Stoops, partner at 6 Degrees Capital. “The company has strong unit economics, great scalability and is led by a world-class team.”
Dale Smith, CEO of SDDE Smith Group, said: “We have been working with Superhog for several years now, and every year the team and the technology have helped us to find new and improved ways of protecting our property owners, protecting our guests, and at the same time increasing our profitability as a property manager,”
It is now looking to grow in markets such as the US, add new members to its team and improve its risk assessment tech.