Air Agents, a London Airbnb Management company, has signed what it calls “a significant investment deal” with BBC Dragon’s Den entrepreneur Tej Lalvani.
Outside of the series, Lalvani (pictured above) is chief executive of vitamin supplement company Vitabiotics.
Air Agents was set up in 2015 by friends Mark Hudson and Fran Milson and currently has 650 homes on its books - however, it says it is confident this will rise to 1,500 by the end of this year.
“We’re delighted to have a second Dragon on board following Touker Suleyman’s investment in January 2017. We’re still a young company, but Tej will give invaluable advice as we continue to shape our brand into a household name. We have had an exceptional year - we are on course to nearly 10 times growth, again, our stock will have more than tripled and we have doubled the team – and we look forward to building on this” says Milson.
Lalvani comments: “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.”
London homeowners are legally entitled to rent out their home on a short-term basis for 90 days a year.
Air Agents describes itself as “an ethical company” working with councils and the government via the Short-Term Accommodation Association to help regulate the short-lets sector.