Apartment rental specialist Bob W completed an initial funding round with € 6 million in additional funding.
The Helsinki, Finland-based company, which offers a technology-driven apartment concept, initially secured € 4 million in seed funding in 2020.
The investment was led by Founders VC and private equity firm Finnish Industry Investment.
Niko Karstikko, co-founder and CEO of Bob W, says the funds will be spent on developing the company’s technology platform as well as recruiting and expanding into new markets in Europe.
He adds that the company, which owns properties in Estonia and Finland, managed to increase revenue in 2020 despite the pandemic and the occupancy rate was three times that of hotels.
“We have served thousands of guests and hundreds of businesses. Customer satisfaction is high as evidenced by our 93 NPS compared to 37 on average for hotels. Last year, we also launched our own technology platform and grew our team from six to 30 employees. We plan to double that number by the summer.
Bob W also plans to open his first apartments in London at the end of 2021.
The company is one of many new rental housing concepts that combine touchless solutions with a local vibe through decor provided by artists and manufacturers in the community.