Recharge Receives Strategic Investment from Fifth Wall Ventures

rechargeRecharge, a San Francisco, CA-based platform for users to rent hotel rooms by the minute in certain cities, received a strategic investment from Fifth Wall Ventures.

The amount of the deal was not disclosed. In conjunction with the deal, Fifth Wall Co-Founder and Managing Partner Brad Greiwe joined the board.

Launched in 2016 by chief executive officer Manny Bamfo, Recharge allows users to book time at 4- and 5-star hotels, paying only for what they needed. Now, the company has also announced Recharge Homes, a feature that gives the ability to book short-term spaces to recharge in private homes as well as hotels in San Francisco, New York and Los Angeles.

To date, Recharge has raised $10m in funding from Fifth Wall, JetBlue Technology Ventures, and Binary Capital.

FinSMEs

29/01/2019

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