Today coliving specialist Habyt has announced a €40 million Series C raise, bringing its funding to €80 million. Habyt offers flexible co-living, apartment rentals and hotels on a digital platform. It was founded in 2017 by Luca Bovone, and now operates globally.
Habyt's portfolio consists of over 30,000 units in 50 cities, supporting thousands of customers every year.
In a time when many people are struggling to access the private rental market against housing shortages and rising costs, there's a need for new forms of housing that offer comfort and security.
At the same time, there are 35 million digital nomads globally for whom simple, flexible solutions offer a way around restrictive local renting laws.
70 percent of Habyt's clients are internationals relocating for study or work, and 30 percent local citizens. It provides a digital-first approach, offering flexible living options for travellers, locals, and professionals across a diverse selection of co-living full-furnished homes - and now, hotels – with minimal admin.
In just two years, Habyt has acquired major competitors Common Living (US), and Hmlet (Southeast Asia), expanding globally and consolidating its position as the world's primary flexible housing company.
The company saw a 40 percent growth in net revenue in 2023 and is aiming for profitability in 2024.
Luca Bovone, CEO of Habyt, commented:
"We are breaking barriers and aim to enable easy access to housing, allowing anyone to embrace flexible living anywhere in the world.
We have seen exponential growth and raised a significant series C with support from existing and new investors, despite a drop in series C rounds across the board this year."
It was also participated by new investors Exor Ventures, Endeavor Catalyst, and existing shareholders P101, ITALIA500-Azimut, HV Capital, Vorwerk Ventures, Norwest, Kinnevik, Burda Principal Investments, and Inveready.
Giuseppe Donvito, Partner, P101, added:
"We're proud to be part of Habyt's mission to revolutionise the flexible housing market.
Habyt offers a fresh approach to addressing the global housing challenge, catering to a growing segment of young professionals living on the go.
The demand for such solutions has been surging over the past few years, and we expect this trend to only strengthen over time."
With its new round of funding, Habyt aims to continue expanding its portfolio entering new markets, further developing ESG initiatives, and enhancing tech-driven solutions to meet the evolving needs of residents.
Lead image: Habyt. Photo: Uncredited.