Habyt Raises €40M in Series C Funding

In a groundbreaking move, Habyt, the world’s leading flexible housing provider, has secured €40 million in a series C funding round. This latest investment round is a significant milestone for the company as it expands its global footprint and strives towards achieving profitability by 2024.

The Series C funding round was spearheaded by two new prominent investors, Korelya Capital, based in Paris, and Deutsche Invest, headquartered in Munich. It also garnered support from additional newcomers such as Exor Ventures and Endeavor Catalyst, as well as existing shareholders, including P101, ITALIA500-Azimut, HV Capital, Vorwerk Ventures, Norwest, Kinnevik, Burda Principal Investments, and Inveready.

Habyt has been on a remarkable trajectory since its series B funding in 2021. The company has cemented its position as the world’s leading provider of flexible housing through a series of strategic mergers and acquisitions. Notably, in 2023, Habyt acquired Common Living, a key player in the North American market, following its acquisition of Hmlet in 2022. As a result, the company has expanded its portfolio from 5,000 units in 18 cities to an impressive 30,000 units across more than 50 cities spanning three continents.

The growth doesn’t stop there; in 2023, Habyt witnessed a remarkable net revenue increase of over 40%, and the company is already profitable in many of its key markets. The ambitious goal is to achieve group-level profitability by early 2024.

Luca Bovone, CEO of Habyt, expressed his enthusiasm, stating, “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.”

Habyt’s mission is to address the global housing challenge, catering to the needs of young professionals and digital nomads. With 70% of its clients being international, the company has established a digital-first approach to standardizing the housing process, offering high-quality, flexible living options. All of Habyt’s properties come fully furnished and equipped, simplifying the housing solution for its customers.

In addition to its funding success, Habyt has expanded its offerings to include hotels, opened its first hotel in Berlin, and has plans to grow its portfolio in Canada, Asia, and Europe. The company is dedicated to innovation, with a focus on enhancing the resident experience through technology-driven solutions and ESG initiatives.

Habyt’s commitment to revolutionizing the housing market is evident, and with this latest round of funding, the company is poised to make even greater strides toward its vision of a flexible and accessible future in housing. Stay tuned for updates, as Habyt continues to evolve and provide innovative solutions to the housing challenges of today and tomorrow.