Russian Airbnb clone TravelRent raises $2 million from Frontier Ventures

Russian Airbnb clone TravelRent raises $2 million from Frontier Ventures

TravelRent, an online service for listing and booking short-term apartment rentals to bypass hotels, has secured $2 million in funding from VC firm Frontier Ventures to expand its team and its available property listings.

The company, which is obviously doing things that are very similar to what Airbnb is doing, aims to increase the number of listings in Russia, CIS and the rest of the world to 45,000 by 2013 (up from 25,000 today).

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By 2015, the company expects to attract more than 5 million registered users.

TravelRent is backed by Fast Lane Ventures, which has developed a habit for copying successful business models from Internet companies to launch new startups in Russia (examples: Pinme and Sapato).

The service was first launched in October 2011.

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