What is Summer?
Founded in 2021 and based in New York, Summer specializes in enabling individuals to purchase second homes and generate rental income by leasing them out during periods of non-occupancy. The company aims to simplify the complexities associated with vacation home ownership and management, positioning itself as a key player in the proptech and fractional ownership markets.
How much funding has Summer raised?
Summer has raised a total of $81.4M across 3 funding rounds:
Angel/Seed
$13.4M
Series A
$18M
Debt
$50M
Angel/Seed (2022): $13.4M with participation from Firstminute Capital, Lightspeed Venture Partners, QED Investors, and 1Sharpe Ventures
Series A (2023): $18M led by Viola Fintech and QED Investors
Debt (2023): $50M supported by 1Sharpe Ventures, Lightspeed Venture Partners, Alumni Ventures, CT Innovations, and Setpoint Capital
Key Investors in Summer
QED Investors
QED Investors is a global venture capital firm specializing in early-stage, disruptive financial services companies, known for its hands-on approach to fostering growth.
Lightspeed Venture Partners
Lightspeed Venture Partners is a global multistage venture capital firm investing in early and growth-stage technology companies across enterprise software, consumer, fintech, and infrastructure.
Firstminute Capital
Firstminute Capital is a seed investment fund supporting early-stage founders in Europe and the US, with a focus on AI, FinTech, HealthTech, and SaaS.
What's next for Summer?
With substantial enterprise-level backing and a recent strategic investment, Summer is poised for accelerated growth and market expansion. The company is likely to focus on enhancing its platform capabilities, broadening its service offerings, and scaling its operations to meet increasing demand for accessible second home ownership solutions. This capital infusion will be critical for solidifying its market position and potentially exploring new revenue streams within the vacation rental and property management ecosystem.
See full Summer company page
