Dragons’ Den star Tej Lalvani has acquired a stake in London-based Airbnb property management firm, Air Agents.
Lalvani, the chief executive of vitamins business Vitabiotics, is the second entrepreneur from the BBC show to buy a share in the short-let management company, after Dragon Touker Suleyman acquired a 14% stake in the firm last year.
Lalvani commented “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.”
The new funding will allow Londoners Mark Hudson and Fran Milson, which set up Air Agents in 2015, to significantly expand on the 650 homes on their books by the end of the year, with a view to having around 1,500 properties under management by the end of the year.
Milsom said: “We are 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, like Vitabiotics.
“We have had an exceptional year - we are on course to nearly ten times growth, again, our stock will have more than tripled and we have doubled the team – and we look forward to building on this.”