Canada-based travel marketplace Demeure has raised $4 million in its third round of seed funding from about 50 Canadian private investors. This brings the startup’s total funding to about $8 million, but it has not yet raised any institutional funding. After a 24-month pilot, Demeure’s platform for buying and selling properties launched publicly last week.
Demeure targets higher-end travelers by using a service subscription model, where renters and owners can choose between an entry level account or a premium account for added benefits. Users list and search properties based on location, bedrooms, budget and keyword. They can also bid on specific rental homes listed on the site. CEO Peter Schwartz tells me the funding will go toward ramping up sales and marketing, as well as improving the platform by increasing user privacy and engagement.
Unlike other travel rental sites, Schwartz says Demeure does not monetize through website traffic, advertisements, customer transactions or user data. “This is an opportunity for people to see the value of a marketplace, without any focus on data or ad monetization getting in the way of what we do,” he tells me.