Flexible housing provider, Habyt, has successfully raised €40 million in a series C funding round, allowing the company to expand globally and strengthen its market presence. The investment round was led by new investors Korelya Capital and Deutsche Invest, and also saw participation from Exor Ventures, Endeavor Catalyst, and existing shareholders P101, ITALIA500-Azimut, HV Capital, Vorwerk Ventures, Norwest, Kinnevik, Burda Principal Investments, and Inveready.
Habyt has made significant strides since its series B funding round in 2021 by engaging in a series of mergers and acquisitions, establishing itself as the leading flexible housing company globally. The company has successfully entered North American and Asian markets, acquiring key players such as Common Living in 2023 and Hmlet in 2022. With this rapid growth, Habyt has expanded its portfolio from 5,000 units across 18 cities in 2022 to over 30,000 units across 50+ cities in three continents.
The company has experienced a remarkable net revenue increase of over 40% in 2023 and is already profitable in most key markets. Habyt aims to achieve profitability at the group level by early 2024, highlighting its strong financial performance despite the decline in series C funding rounds this year.
CEO Luca Bovone expressed his excitement about Habyt’s progress, stating, “We are breaking barriers and aim to enable easy access to housing, allowing anyone to embrace flexible living anywhere in the world.” He noted the exponential growth and significant series C funding raised, even in a challenging market.
Habyt’s success comes at a time when young people globally are facing a critical housing shortage, with demand far exceeding supply and mortgage interest rates soaring. Moreover, there are 35 million digital nomads worldwide who seek flexible solutions due to restrictive local renting laws. Habyt addresses these challenges by focusing on a digital-first approach and offering high-quality, flexible living options for travelers, locals, and professionals. With 70% of its clients being international individuals relocating for study or work, and 30% local citizens, Habyt caters to a diverse customer base.
Habyt’s co-living spaces, homes, and recently added hotels provide convenience and flexibility for individuals looking to settle into different cities on their own terms. All of the company’s units come fully furnished and equipped, making it the most straightforward housing solution on the market.
With the latest round of funding, Habyt plans to continue expanding its portfolio into new markets, focusing on environmental, social, and governance (ESG) initiatives, as well as enhancing its tech-driven solutions to meet the evolving needs of residents. The company is set to unveil multiple updates to its mobile app and offer an enhanced browsing and booking experience to ensure a seamless onboarding process for its customers.
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