INSUBCONTINENT EXCLUSIVE:
Leavy.co, the Paris-born startup that offers a travel app for millennials to help them travel more without getting into further debt, has
investor Prime Ventures, with participation from angel investor Dominique Vidal (who is also a partner at Index Ventures)
studying law and traveling a lot, and later joined by co-founders Yassine Ben Romdhane (COO) and Mario Moinet (Chief Strategy Officer), the
The idea, explained Chaouachi on a call yesterday evening, is to scale the community model that she first developed informally amongst
Leavy gives members cash up front when they make their space available prior to traveling, regardless of whether or not a booking takes
The exact price offered is dynamic and factors in various data, including how much notice is given.Chaouachi declined to talk about the
range of margin Leavy expects to generate, but, unlike most marketplaces, the startup is taking on most of the risk
If it fails to rent out a space while a member is away, it loses money
On the other hand, if its algorithm works well, it should be quite lucrative.However, Chaouachi stressed that its algorithm and everything
the startup does is being optimised for member satisfaction
They can then spend Leavy Coins on various travel-related products.More broadly, the problem that Chaouachi is passionate about solving is
that millennials are typically saddled with debt, often through buying an education or high accommodation costs, and that the desire and
Leavy.co says its community network has grown to more than 65,000 millennials, of whom 60% are women
The young company already has 100 employees across 6 markets, with offices in Paris, Amsterdam, London, Madrid, Rome, and Lisbon
The plan is to open up in the U.S
