31st Jul 2017

MMC portfolio company Love Home Swap sold to Wyndham Worldwide

We are proud to announce the sale of MMC Ventures portfolio company Love Home Swap to Wyndham Worldwide, a leading US-based hospitality company. The deal included the sale of all shares and a successful exit for MMC investors.

Love Home Swap is an online travel club allowing holidaymakers to access stylish home swaps around the world. The business has been acquired by RCI, the worldwide leader in vacation exchange. RCI forms part of the Wyndham Worldwide family of brands which includes Ramada, Travelodge and James Villa Holidays.

MMC first invested in Love Home Swap in 2011, supporting the business with further capital in 2013. MMC invested through our EIS Fund as well as our institutionally-backed Enterprise Capital Fund and MMC London Fund. We are proud to have helped Love Home Swap develop from an early-stage company to one of the UK's best-known sharing economy businesses. Love Home Swap will continue as an independent brand but benefit from the added resources that come with being part of a global hospitality leader, along with potential access to a portfolio of accommodation options around the world.

MMC managing partner and Love Home Swap board member Bruce Macfarlane had the following to say: "MMC Ventures has backed Love Home Swap from seed through growth capital and is proud of the company and founder Debbie Wosskow's pioneering success in the sharing economy. Today’s announcement is a great testament to the team’s focus and determination and we are delighted to have supported them on their journey."

Love Home Swap founder and CEO Debbie Wosskow commented: “I’d like to thank the team and everyone involved in driving Love Home Swap forward. Dedication and hard work has yielded fantastic results in a short space of time and this is a real global success story for the UK sharing economy. We’re delighted to join the RCI family and are excited to work closely with them to help shape the future of the travel industry together.”

Read more on this story on TechCrunch.

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