A startup labelled the Airbnb of business travel is set for a major expansion in Asia.

MetroResidences partners with property owners – private landlords and large asset management firms – to provide business travellers with serviced accommodation. Users can book through the company’s smartphone app, which has a facility where spare rooms can be viewed virtually.

And thanks to $2.8 from Japanese ecommerce giant Rakuten, MetroResidences is now well placed to grow in a buoyant market predicted to be worth $1.6 trillion by 2020, according to the Global Business Travel Association (GBTA).

The investment will be used to support expansion into Tokyo and Hong Kong.