A provider of high-end holiday rental cottages has secured a new round of funding to support its growth and create 24 jobs.
Birmingham-based Luxury Cottages, which was founded in 2019, will use the £500,000 to increase its presence across the UK with staff based in each major tourist area.
The fresh capital has been provided by The FSE Group Debt Finance Fund, part of the Midlands Engine Investment Fund (MEIF).
This latest investment follows more than £1 million in equity funding previously raised through Birmingham-based venture capital firm Midven, also via the MEIF.
Luxury Cottages' chief executive Alistair Malins said: "Over the last three years of challenging market conditions, we've built a strong brand position and a reputation for excellent customer service. Off the back of this, we expect to more than double in size this year.
"With our focus on the premium end of the market, we anticipate continued high demand for holidays and are delighted to have received further backing from the MEIF which will allow us to expand our team and make the most of buoyant market conditions."
Ryan Cartwright, investment manager at The FSE Group, added: "This is a truly exciting time for Luxury Cottages.
"The current team has a proven track record of success and the forthcoming new hires will bolster the company's dynamic and determined ethos.
"We're delighted to be working with Alistair and his team and very much look forward to joining them on their growth journey."
