Vakast, a Newport Beach, California-based online travel agency for vacation rentals, closed a $1.3m seed funding.
The round was led by Blackstone Group senior managing director Chinh Chu and Ken Pansuria, a founder of the Fine Hospitality Group, LLC, with participation from Nicky Nguyen, founder of NJ Enterprises Inc.
The company intends to use the funds for technology development, marketing and additional staff to support increased traffic.
Incorporated in April 2013 and led by CEO Huan Truong, Vakast allows consumers to search and book rentals, with access to the listings of 25 peer-to-peer and traditional vacation rental partners including HomeAway, Wimdu, Villas of Distinction and HouseTrip.
The company also offers live customer service via email and phone, serving as an intermediary between homeowners and renters.
FinSMEs
31/07/2014