MagicEvent.com, a French collaborative consumption website dedicated to business tourism, raised €1m in funding.
The round, which had raised €500k in March 2014, also included financing from BPI (Banque Publique d’Investissement or Public Investment Bank).
The company intends to use the funds to accelerate their growth and internationalization. The goal is to reach 2,800 advertisements by the end of 2014, 30, 000 by the end of 2015 and 100, 000 by the end of 2016, covering all the major “business” centres in Europe and overseas (the United States and Dubai will already be covered by the beginning of November).
Launched in 2014, MagicEvent.com offers accommodation within the immediate vicinity of the major business centres and the major Convention/Exhibition Centres. The site currently offers almost 2000 accommodations (apartments, studios, villas) in 25 cities and 9 countries.
The company employs 15 people at their office in Grasse, Cologne and Madagascar for web development.