Summer, an innovative approach to short-term rentals and vacation home ownership founded by former Airbnb employees, today announced an $18M funding round from a group of leading investors, including QED and Viola FinTech, as well as a secured debt facility of up to $50M from Setpoint Capital. Contributing investors for the funding round include Lightspeed Venture Partners, 1Sharpe Ventures, CT Innovations, Alumni Ventures, Elizabeth Street Ventures, Merrimac Corporation, Gaingels, Firstminute Capital and Not Boring Ventures.

Summer is on a mission to open access to vacation homes by eliminating the headache and risk associated with buying. The company was founded in New York by Paul Kromidas and launched in 2022.