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Successfully funded
overfunded
My Friends Room
108%
Raised
£97,870
Investors
111
Target
£90,000
Equity
10.78%
Pre-money valuation
£810,000

MyFriendsRoom is a platform where members can rent travel accommodation from their friends and friends of friends. Vacation rentals from your own network is a reassuring alternative to renting from strangers in this high growth market.

  • The global vacation rental market is predicted to reach $169.7 billion
  • Proof of concept achieved (250 members). Ready for growth.
  • Combines social networking and vacation rentals
  • 76% would be prepared to pay to borrow a friend's house on vacation

Idea

MyFriendsRoom is a place where friends can feel free to approach each other for accommodation when traveling.

Our research suggests that there is a market for travellers who would like to rent somewhere more personal than a hotel or vacation rental. So we had the idea of renting from someone you know or who has been recommended by a friend. Vacation rentals is a growing worldwide market and we believe there is an opportunity in the friends networking sector.

Many of us have friends and friends of friends all over the world, online, but may not feel comfortable asking to stay with them. We have developed the MyFriendsRoom platform www.myfriendsroom.com. How it works is very simple:

1) Sign up and invite your friends to connect with you.

2) View your friends on a world map and search for places to stay from friends and friends of friends.

3) Search for properties to rent in more than 8 European countries.

4) Book a place to stay using our booking system.

5) Share your travel photos, videos and blogs with your friends on our platform.

MyFriendsRoom grew organically to 230 members and has made it’s first sale. We have properties listed in: UK, Italy, Cyprus, Spain, Portugal, Switzerland, Czech Republic, Bulgaria. Within 3 years we hope to have at least 15,000 listings across Europe. In time, we aim to have teams in 5 travel hot spots in the UK and Europe.

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Risk warning

Investments of this nature carry risks to your capital, including illiquidity, lack of dividends and dilution. Balance risk with a diversified portfolio. Read more. Approved as a financial promotion by Crowdcube Capital Limited, which is authorised and regulated by the Financial Conduct Authority.

Investment opportunities are not offers to the public and investors must be eligible Crowdcube members. Further restrictions and Crowdcube's limitation of liability are set out in the Investor Terms and Conditions. Please seek independent advice as required as Crowdcube does not give investment or tax advice.

My Friends Room has been given advance assurance by HMRC that the proposed share issue is likely to qualify for Seed Enterprise Investment Scheme (SEIS) tax relief.

Tax relief is available to individuals only, with income tax relief currently set at 50 per cent of the cost of the shares for the tax year in which the investment was made. The tax reliefs can also reduce your Capital Gains Tax bill. Read More.

Availability of tax relief depends on your individual and the company’s ongoing circumstances and applicable law.