Rental sharing startup Luxstay raises $3M in bridge round

Luxstay, a home-sharing startup in Vietnam, has recently received funding from a bridge round led by CyberAgent Ventures, Y1 Ventures, and other investors. The amount raised was $3 million.

CyberAgent Ventures, which is helping the startup with an internal structuring exercise and has facilitated the bridge round, first invested in the firm in early 2018.

Founded in 2016 by Vietnamese entrepreneur Steven Nguyen, Luxstay is an online platform that connects homeowners looking for short-term rentals with tourists or business travelers.

The platform, which claims to have a network of 10,000 homes in the nation, attracted investment from Vietnam-based fund ESP Capital and Genesia Ventures in its initial round. Genesia Ventures then led a $2.5-million pre-Series A investment in the AirBnB-like startup, before CyberAgent Ventures injected an undisclosed amount in the firm.

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