Mint House, an apartment-style lodging provider, has raised $ 35 million in a Series B round of funding, the company announced Wednesday. Founder and CEO Will Lucas said in a statement that the Mint House would use the funds to accelerate “the roadmap and market expansion of our products.”
The round was led by Mohri Hospitality. Allen Smith, managing director of Mohri and former CEO of Four Seasons Hotels and Resorts, will join the board of directors of Mint House. Current investors include Revolution Ventures, Allianz Ventures and Ingleside Investors.
Founded in 2017, Mint House now operates 22 properties in 14 markets, including New York City, Miami and Nashville. It features a complete kitchen and workspace in the city center. The company has a partnership with American Express Global Business Travel.
The Mint House says it sees business travel as a key component, and Lucas said in a statement that the post-Covid corporate trend has boosted demand and claims that the company’s revenue will grow by more than 200 percent in 2021.
Secular megatrends, including a mix of “working from anywhere” and business and leisure travel, are creating an explosive demand for flexible apartment-style accommodation instead of inherited hotel rooms, “said Lucas.
Mint House has raised more than $ 80 million so far, according to the company.