Boutique hotel booking site Mr & Mrs Smith crowdfunds £6.2 million in less than a month

According to the campaign page on crowdfunding site Crowdcube, more than 2,100 investors backed the company, which had a pre-money valuation of £26,341,500. The original target of £1 million was quickly passed, and the total raised was at over £6.1 million.

The business was founded in 2003 by husband and wife Tamara and James Lohan after a bad experience prompted them start a recommendation service where all properties are anonymously reviewed. The company now has over 1,500 members around the world who pay an annual fee to access hotels and villas that staff have anonymously vetted and approved.

The company said they had handled over £60 million worth of bookings in the 12 months to 30 June 2018, with 98% of members saying they would book again.

The website currently lists 28 hotels and 4 villas in Sri Lanka.

Core plans for the funds raised include expansion within the US, inspection of more properties, and development of its trips and experiences business SideStories.

Hospitality Insider Issue 4