In brief: Vietnamese home-sharing startup nabs $3m in bridge round

Home-sharing startup Luxstay announced today that it has raised US$3 million in a bridge round from several investors including Tokyo-based CyberAgent Ventures (CAV), Y1 Ventures, and others. This is the second time CAV has invested in the startup. Founded in 2016, the Vietnam-based startup claims to have a network of 10,000 accommodations across Vietnam.

In Southeast Asia, the sharing economy business model is growing, particularly in ride-sharing, food delivery, and goods shipping. The company said in a statement that it’s planning to acquire new investors and wants to raise their next funding round in mid-2019, expecting an injection of US$10 million.

Source: Press release