Published On: Tue, May 16th, 2017

Israeli Resort Suite Booking Startup Sweet Inn Raises $22 Million

Over the past 3 years, Sweet Inn has demonstrated the proof of its new hospitality concept to own, renovate, and rent local apartments.

 

Founded in 2014 by CEO Paul Besnainou, Israeli startup Sweet Inn has raised $22 million in first investment from external funds. Until recently, the Company was solely funded by the French-Israeli Besnainou family.

Over the past 3 years, Sweet Inn has demonstrated the proof of its new hospitality concept to own, renovate, and rent local apartments which combine the best of a 4-5 star hotel services and living as native style.

The round led by Israeli growth fund Qumra Capital, an Israeli growth capital fund that invests in stage-driven companies such Taboola and Fiver. Additional investors in Sweet Inn included the BRM Group led by the mayor of Jerusalem Nir Barkat and his brother Eli Barkat -invested in Check Point and Moovit.

Other European investors LA MAISON managed by Michel Cicurel and Marc Levy, and Luxembourg holding investment M.I.3 managed by Philippe Dhamelincourt and Christian Haas.

Sweet Inn operating staff of 150 employees, and over 350 apartments in a variety of European cities: Paris, Barcelona, Rome, Brussels, Lisbon. As well as Jerusalem and Tel Aviv.

“We are very proud of the choice of our new shareholders, who, by their own expertise, symbolize the perfect combination of the -known Israeli technology and the French in the luxury hospitality industry. These new shareholders not only give us the means to accelerate our development but mainly to take part in the digital revolution that will lead to a deep reconfiguration of the industry. The funds will allow sweetinn.com to implement -depth technological tools in Yield Management and Big Data as well as in loyalty programs,” added Paul Besnainou.

 

 

The company also continues to develop its technological platform which supports its strategy and digital marketing and will hire 80 employees for this purpose for its offices in Tel Aviv and Jerusalem.

Ordered can be made online directly from Sweet Inn’s site, or through the major online travel agencies such as booking.com, Expedia, Agoda and more.

 

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