Decade-old Sydney property management and short-term rentals platform Hometime has topped up its coffers once more with a mix of venture capital and debt totalling $19 million.
Once again the company did not reveal details the split between cash and borrowings, which also included debt refinancing with the Commonwealth Bank.
The VC side was led by Craig Burton’s Verona Capital, supported by a phalanx of 15 existing backers as well as family offices.
Hometime, founded in 2016 in Perth, kicked off with its capital raising in 2017 with $1.5 million from Martin Dalgleish’s Asia Principal Capital, followed by $6m in debt and equity from OneVentures in mid-2019, then topped it up a few months later with $4.5m from NAB Venture, and AS1 Capital.
In 2024 another $10 million hit the bank account from Sydney-based Fifth Estate Asset Management for a buying spree. After acquiring Sydney-based Hey Tom in 2018, Hometime snapped up two rival short-term-rental platforms, Host My Home in Cairns and bnbpal in Melbourne.
The company now looks after more than 3500 properties, from apartments to resorts and beach houses, in dozens of locations across Australia. It manages its own properties, as well as collaborating with Airbnb hosts.
Hometime manages everything from cleaning to booking inquiries, property maintenance and marketing.
Cofounder Dave Thompson left the business in August 2024 and now runs Freedom Ventures, a venture builder and HoldCo that builds and backs cash-flow businesses.
