Spotahome raises €1.2M in convertible bonds to fund growth
What's the deal? Spotahome has raised €1.2 million (about $1.3 million) through convertible bonds, the company said. It plans to use the money to accelerate its growth.
What's the endgame? Spotahome operates an online platform for booking medium- and long-term rentals. The fresh capital is earmarked to speed up its expansion plans.
The signal: The round is modest by venture standards, landing in the lower end of deals by size. The use of convertible bonds — debt that can later convert into equity — points to a financing route that defers valuation talks, a tool startups often reach for between larger equity rounds.
Read more: cincodias.elpais.com
Image credit: palomoduarte
