Recharge uses new funding to extent to home-sharing

Hotel booking mobile app, Recharge, has announced the launch of a home-sharing service along with an investment from Fifth Wall.

Though the terms of the strategic deal were not made public, Recharge says it has raised $10 million to date. In April 2017, JetBlue Technology Ventures made an undisclosed investment in the company.

In addition to hotels, which Recharge users (typically corporate travelers or locals) can book at four- and five-star properties in the San Francisco and New York areas, homes are now also available to book in both locations, as well as in Los Angeles.

Recharge says the launch of homes gives hosts the opportunity to make money on their properties while they’re out of town, at work or any time they leave home for any amount of time.

The homes unit has been in beta for the past three months, and more than 80,000 users are on the waitlist with active bookings in San Francisco and New York.

“It’s a solution that works for both parties - in homes, we found an equally underutilized asset. We go to work, we come home. During the day, the space where we live is often vacant, creating a prime opportunity to generate revenue,” Recharge says in a blog post.

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