hovelstay.com, a Los Angeles, CA-based startup that lists inexpensive and interesting places to stay for traveling college students, secured $1.2m in Series A funding.
Unnamed private investors in London and Dubai led the funding.
Founded in 2014 by Michael Bolger, CEO, hovelstay.com is a niche marketplace for college to find simple, unconventional and affordable lodging while giving hosts an opportunity to monetize free space.
All listings are priced under $99 USD. The service is completely free to list, charging hosts only 3% of the booking fee, and a 3% fee to students for merchant processing.
A verifiable .edu email address is required to register on hovelstay.com in order for a student to book a space.
Students may stay at a hovel for a day, week or semester.
The service is providing an introductory rate, charging property owners only a 1% fee on each booking from now until February 1, 2015.