Dot Matrix Group is pleased to announce its latest syndicate investment in Stay One Degree, a network and members club that connects travellers with some of the world’s most incredible homes.
This investment in Stay One Degree marks DMG’s eighth investment overall and its third as a growing syndicate - our largest ever investment. Stay One Degree was started in Hong Kong by ex-banking colleagues Tom Bennett and Jorge Munoz in 2017 after Tom rented out his second home in Spain and it didn’t go well - as the property was completely trashed by the renters. If he was going to rent out the property again then trusting who was in there was the most important part. Surely other homeowners have this challenge too?
What is the Stay One Degree difference?
With Stay One Degree Tom and Jorge have created a social network with trust at the centre. Properties can be browsed by members but only rented if the buyer and the homeowner are ‘One Degree’ connections with each other. The homes are handpicked and members are vetted before they can book to ensure the homeowner is comfortable renting out their home to them. Members benefit from preferential rates, exclusive rewards and local guides / concierge services.
Why did DMG invest in Stay One Degree?
The peer-to-peer property rental market has exploded in recent years with AirBnb. But with this growth, users are finding a lack of curated choice and trust is becoming more important, particularly in the luxury sector. Many owners of high end homes simply don’t want to risk renting out their place to people they cannot trust. A well-vetted and exclusive membership community can unlock the properties, experiences and connections that are difficult to access. This ease of booking and trust gives homeowners additional income and buyers a more interesting holiday and access to others in the network.
2,500 Homes, 15,000 Members
We have observed the team’s execution since the beginning - they have on-boarded over 2,500 homes and over 15,000 members, have signed partnerships to give members some fantastic perks and the team are unlocking many more homes that aren’t currently rented out. Feedback from members is very good - renting through Stay One Degree is typically a high value and fairly infrequent purchase however many members have come back again and again.
Added to that is the fact that Kash has known Tom for 20 years since their Citi days so knows that Tom has what it takes to build a successful company and cater very well for this market.
Tom Bennett, Co-founder at Stay One Degree said, “Jorge and I are delighted to have DMG onboard - there’s a lot of crossover in our networks and we’re looking forward to helping them find their next holiday destination! What’s more, all our investors from the DMG Syndicate get access to our Platinum Club so can benefit from special partner experiences such as supercar driving days, access to members’ clubs around the world and special offers on our platform”.
Your next holiday?
You can apply to join the Stay One Degree network and/or list your home here.
Join the DMG Syndicate
You can also join the DMG Syndicate and see our next investment opportunity here.