Co-living accommodation provider Habyt has raised €40M in series C funding.
The investment in the Germany-based business was led by Korelya Capital and Deutsche Invest with Exor Ventures, Endeavor Catalyst and existing investors also participating.
With the cash injection, the company aims to continue expanding into new markets. Habyt has entered the North American and Asia markets since its last funding round in 2021 and most recently acquired Common Living in North America.
The company, founded in 2017, now has 30,000 units across more than 50 cities and three continents. Habyt described 2023 as “one of the most significant years” for the company with a rebrand and the opening of a hotel in Berlin coming on top of its acquisition of Common Living.
It also entered Canada during the year and further expansion is expected in Asia with additional plans to enter the United Kingdom.
Subscribe to our newsletter below
Habyt will also update its mobile application with an enhanced browsing and booking experience in the near future.
Luca Bovone, CEO of Habyt, said, "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.”
Giuseppe Donvito, a partner with existing shareholder P101, added, "We're proud to be part of Habyt's mission to revolutionize the flexible housing market. Habyt offers a fresh approach to addressing the global housing challenge, catering to the needs of 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."