A new proptech firm has raised £400,000 on a valuation of £2m.

The business, YourWelcome, has raised the money via Pi Labs and Angel Syndicate.

YourWelcome was started last year by two friends, Henry Bennett and Paul Loram, both of whom are part-time Airbnb hosts.

Their new business enables the UK’s 52,000 Airbnb hosts to offer value-add services such as taxis, take-aways, or discounted shows – and make money at the same time.

According to Airbnb, over 80% of users choose not to stay in a hotel because they prefer to “live like a local”.

These guests spend an average of £1,231 during their stays on local services – presenting a market for targeted offers.

YourWelcome enables Airbnb hosts to share in the revenue from up-selling these services.

Personalised tablets are left out for guests, with the service enabling hosts to monetise their recommendations for, say, local restaurants and cab firms.

Juliette Morgan, co-founder of Pi Labs, said: “YourWelcome have created a great solution for helping short term let providers monetise their property portfolio over and above pure rental income.”

YourWelcome is said to have had over £1m offered on its Pi Labs demo day.