UK-based serviced apartment distribution provider The Apartment Network is to receive additional funding from its parent company, private equity firm Ansor.
The extra money from London-based Ansor will be part of a £63 million investment, which will be used to support its range of businesses, including The Apartment Network (TAN).
Ansor said it would invest in the five companies in its existing business portfolio over the next two years but has not specified the level of funding that TAN would receive.
The Apartment Network now offers more than 53,000 apartments in 420 cities across 50 countries. The Apartment Network recently recruited former ACTE executive director Greeley Koch as strategic advisor and director for the Americas as the platform plans further growth in Europe and North America.
The Apartment Network was acquired by Ansor in 2020. The other companies in Ansor’s portfolio are not directly related to travel and include ALS Dental, 4C Procurement, Compliance Group and Efficient Building Solutions.