As they look to strengthen their offering, Montreal-based Luxury Retreats announced the closing of a $5 million round in venture capital led by iNovia Capital. Luxury Retreats service provides luxury villa rental company providing personalized villa vacations.
This round of funding will be used to strengthen the Company’s balance sheet and provide additional operating capital and financial resources to pursue future growth opportunities.
“We are excited to announce this funding. Up to this point, we have been very successful in servicing our rapid internal growth by redeploying profits internally, enabling us to maintain our position as the largest luxury villa rental company in the world,” said Joe Poulin, Luxury Retreats’ founder and chief executive officer. “This capital provides us the additional financial flexibility to pursue opportunistic investments to enhance our long-term growth plans, with our ultimate goal to remain the leading player in the global luxury rental market.”
iNovia’s Founder, Mr. Chris Arsenault will be joining the board of Luxury Retreats along with Bertrand Cesvet, Founding Partner of Cirque du Soleil Lifestyle Group and Chairman of global agency Sid Lee.
Luxury Retreats plans to add at least 50 new destinations such as London, New York etc. in the next twelve months.
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