VC-backed Luxstay, Rakuten Lifull partner for vacation rental business

Photo: Luxstay website

VC-backed rental sharing startup Luxstay and Japan’s Rakuten LIFULL STAY have entered into a partnership in the vacation rental business as part of their expansion plans.

The collaboration does not involve an equity partnership, according to executives from the the firms.

As per the agreement, Rakuten LIFULL STAY will provide its inventory of Japanese vacation rental properties listed on its site ‘Vacation STAY’ to Luxstay, and vice versa.

In addition, the partners will collaborate on marketing activities aimed at tourists from both the countries.

The agreement will also see Rakuten LIFULL STAY and Luxstay explore collaborations in Vietnam and other Asian countries.

This would be the first time Rakuten LIFULL STAY develops vacation rental accommodation properties under the Rakuten STAY brand outside of Japan, the Japanese firm said.

“With this partnership, Luxstay wishes to push Vietnamese tourism industry, especially promoting beautiful images of Vietnam and its vacation rental service to Japanese visitors,” said Nguyen Manh Dung, chairman of Luxstay and investment partner for Cyberagent Ventures.

Luxstay attracted investment from Vietnam-based fund ESP Capital and Genesia Ventures in its initial round. Genesia Ventures then led a $2.5 million pre-Series A investment in the AirBnB-like startup, before Cyberagent Ventures injected an undisclosed amount in the firm.

Rakuten Lifull Stay is a joint venture between Japanese e-commerce giant Rakuten and real estate and housing information company Lifull Co Ltd. Since earlier this year, Rakuten Lifull Stay has partnered with a spate of companies, including Agoda, WaQoo, Showa Leasing, Alsok, Takuto Holdings and Yanolja Corp, to rev up its vacation rental business.

Also read:

Japan’s CyberAgent Ventures backs Vietnam’s Airbnb-like startup Luxstay

Japanese Genesia Ventures leads $2.5m funding round in Vietnam’s Luxstay

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.