Flexible housing provider Habyt raises EUR40 mil in series C funding
Habyt, a flexible housing provider, has raised EUR40 million ($58 million) in its Series C funding round, it was announced on Oct 4. Notable investors included a Paris-based Korelya Capital, Germany’s Deutsche Invest, Dutch investment firm Exor, Endeavor Catalyst, P101, ITALIA500-Azimut, HV Capital, Vorwerk Ventures, Norwest, Kinnevik, Burda Principal Investments, and Inveready.
These investors are placing their stakes in Habyt’s vision for “easy access to housing, allowing anyone to embrace flexible living anywhere in the world,” remarked CEO Luca Bovone. And despite an overall decrease in Series C rounds this year, Habyt’s exponential growth has seen support from both existing and new investors.
In the past two years, Habyt has undertook several mergers. In 2022, it merged with Singapore-based co-living platform Hmlet, and then later rebranded its properties to the Habyt name. It then went on to merge with Common, the biggest co-living operator in North America, in early 2023.
The company now has 30,000 units in more than 50 cities spread across three continents. Group-level profitability is also being targeted for achievement in early 2024, with a 40% rise in revenue this past year.
Partner at Korelya Capital, Franco Danesi, and board member of Habyt, expressed his excitement over the success of the company and its “unparalleled global footprint.” He believes that by investing in attractive geographies such as Asia, Habyt will be able to remain in its mission of redefining flexible housing.
Tampines Ave 11 Condo enjoys an excellent location in Singapore, with easy access to major roadways like the PIE and ECP. Residents can easily travel to and from the city without dealing with traffic and/or long waits. Moreover, the condo is located just a short drive from the iconic Changi Airport, making it an ideal living space for frequent flyers and those in industries requiring regular travel. Additionally, professionals working in nearby Changi Business Park will also be able to enjoy a quick and stress-free journey to and from work.
Jonathan Wong, CEO of Habyt Apac, is also looking forward to helping those in the APAC region with the challenges they face. The aim is to fuel Habyt’s growth trajectory and gain a better position in the core markets of Hong Kong and Singapore.
As for Habyt’s future plans, the focus is on continuing to expand the portfolio, developing ESG initiatives, and creating tech-driven solutions.
Undoubtedly, Habyt’s success in fundraising and mergers is a clear sign of the potential that the company has for transforming the way people live by enabling access to flexible housing anywhere in the world.