Recharge is a San Francisco, CA–based platform that allows users to book hotel rooms by the minute. Launched in 2016 by CEO Manny Bamfo, the service lets customers book time at 4- and 5-star hotels and pay only for the time they need. The company has expanded its offering with Recharge Homes, enabling short-term bookings in private homes as well as hotels. Recharge Homes is available in San Francisco, New York and Los Angeles. The company has pursued outside capital and received a strategic investment from Fifth Wall Ventures. To date, Recharge has raised $10M from Fifth Wall, JetBlue Technology Ventures, and Binary Capital. Recharge operates a mobile app that enables customers to book hotel stays by the minute, charging 67 cents per minute or $40 per hour. The company partners with hotels and splits revenue with each property depending on day, time and month. Recharge had partnerships with Hyatt and Starwood properties in San Francisco at the time of reporting, and the CEO said more properties are coming online soon but declined to provide details. The app is positioned for a range of use cases from short rest or showers to private spaces for breastfeeding or practicing a speech. Hotels may benefit by monetizing otherwise empty rooms during daytime hours. Recharge closed a $2.3 million seed round to support its growth plans. Recharge operates an app that enables users to book hotel rooms by the minute, charging $0.67 per minute (about $40/hour). The 10-month-old San Francisco startup partners with Hyatt and Starwood properties, shares revenue with hotels, and does not buy inventory. There is no minimum stay and customers are charged by the minute with no surge pricing; the company plans to add a day rate in the future. Recharge quietly launched last summer in a handful of Bay Area hotels, is opening coverage at the San Francisco airport, and plans expansion to L.A., New York, and London. The company reports 104% month-over-month growth and that 25% of stays are from repeat customers; stays have ranged from 12 minutes to 25 hours. Users include business customers from companies like Salesforce, members of the venture community, and law firms.

Total raised

$3M

Funding rounds

3

Latest round

Seed

Latest activity

Jun 2016