Barcelona-based rental platform Badi has surpassed 300,000 room listings in Europe and released insights from its rapid growth since launching in 2015. Based on the data of nearly two million users, the proptech startup's findings hint at the urgency and transience of the European rental market, reflecting the nomadic nature of millennials.
With 450 percent year-on-year growth in listings from launch to 2019, the proptech platform receives a booking request every two minutes. On average, it takes only one week for a room to get booked. The average Badi renter is 32 years old, most likely resides in London, Barcelona, or Madrid, and stays less than six months.
Alvaro Cordoba and Carlos Pierre (CEO) founded the Spanish startup in 2015, with the mission of making urban life more affordable and relocation more convenient. The result is an AI-platform that allows people to find and rent rooms in major cities, providing flexibility and security to both sides of the contract.
With $45 million raised from US and international investors like Spark Capital and Mangrove Capital, including a $30 million round one year ago, Badi has opened offices in London and Berlin, adding 75 new employees over the last two years. The goal is to launch in the US later this year.