Air Agents, a London Airbnb management company, has signed a large investment deal with BBC Dragon and Vitabiotics chief executive Tej Lalvani.
Set up in 2015 by friends Mark Hudson and Fran Milson, Air Agents manages properties on behalf of corporate clients and individual owners.
The team has 650 homes on its books, but this is set to rise to 1,500 by the end of the year.
The latest round of investment will help the operation expand further, with Tej Lalvani taking a 7.5% share in the company.
Tej Lalvani is a British businessman and the chief executive of the UK’s largest vitamin company. He oversees all of the company’s marketing and branding, from package design to TV advertising.
He is the second Dragon to invest in the proptech start up, following Touker Suleyman’s investment in January 2017.
Tej Lalvani said: “I am thrilled to be involved in a project as exciting as AirAgents. The business model is exceptionally clever to support a company like Airbnb during its boom, and I see only great things for the future of the brand.”
“We’re still a young company, but Tej will give invaluable advice as we continue to shape our brand into a household name, like Vitabiotics,” said Milson. “We have had an exceptional year – we are on course to nearly 10x growth, again, our stock will have more than tripled and we have doubled the team – and we look forward to building on this.”
What is DealMakerz Prime?
In depth stories
Want to know the story behind Britain's latest property mogul? Why a company is going bust? Our coverage goes beyond run-of-the-mill news on key real estate issues.
High powered community
Our subscribers are made up of the most influential Founders and CEO's in UK property. Gain a competitive edge and get informed - read what they read.
Exclusive guest articles
Understand exactly what the most senior figures in UK property are thinking. Exclusive opinion articles from powerful real estate influencers that move markets.