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Power Pitch

Q&A With Onefinestay's Evan Frank

Q&A With Onefinestay's Evan Frank

What is the mission of your company?

To make it possible for you to live like a local wherever you are in the world.

Explain your business model - how do you make money?

Onefinestay lets visitors from London and New York live like a local in a distinctive home while the owner is out of town, and help homeowners earn a completely hassle-free income from their house or apartment at times when it would otherwise stand empty.

We charge guests a variable nightly rate, just as they'd pay in a hotel, for accommodation and services. With our hosts, we don't work on a commission structure but instead agree a fixed nightly rate, which they are paid for every night that a guest stays at their home. Our business model is based on the difference between what we pay the host and what the guest pays onefinestay.

Who do you compete with in this space and how are you different?

For guests we mainly compete with upscale hotels, but offer an exciting new category of accommodation teaming the character of beautiful homes with the best bits of hotel services. It suits everyone wanting to explore local neighborhoods and business travelers branching away from the staid atmosphere of a hotel.

Where are your headquarters?

In London, UK.

Number of full-time employees?

Over 100 permanent members of the team, and at least the same again including contract, agency and part-time staff.

Year Founded?

Onefinestay was founded in 2009.

Funds Raised?

We've raised a total of $16 million capital to date.

Key Investors?

Our Series B financing was led by leading US venture capital firm Canaan Partners, with participation from existing investors Index Ventures and PROfounders. Other investors include some of the foremost players in the travel and hospitality industry — Brent Hoberman, co-founder of Lastminute.com, Andy Phillips, co-founder of Active Hotels, and David Magliano, former Director of Marketing for London's successful 2012 Olympic bid.

Prior experience

Evan was previously co-founder and CEO of iwantBOX.com, an e-commerce menswear brand. Before that, he was a Director at Kennet Partners, a technology growth equity fund based in London and Silicon Valley.

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