New Delhi-based start-up GuestHouser.com is in advanced stages of discussions with venture capital firms to raise about $10-12.5 million (₹66.6-83.2 crore) in ‘Series A’ funding in exchange for a minority stake.

The company intends to close the fund-raising by late December or early January.

“We are in discussions with a number of VC firms in the US, India and China, and this could be raised mainly as a syndicated funding (from one or more firms).

“We are looking for investors who can be long-term financial partners or strategic investors,” Dhruv Sharma, Chief Executive Officer and Founder told BusinessLine .

“We are yet to close the deal and the exact stake to offloaded, valuation and the names of the investors cannot be disclosed now,” he added.

Sharma had founded the company in October 2014, which helps travellers to find non-hotel accommodation in different places other than hotels.

It helps tourists stay in places such as boathouses, private villas, yachts and palaces.

The start-up would utilise the ‘Series A’ funding (first institutional funding) for organic growth.

GuestHouser had raised an initial funding of $800,000 (seed and angel funding) from private investors, of which $700,000 in May 2014 and $100,000 in November 2014.

The company has a privately curated network of about 50,000 properties across 1,100 cities in India, which it intends to double to one lakh.

Further, the funding would be used for marketing initiatives and to increase headcount to about 500 from the present 100 by summer of 2016.

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