The Berlin-based company Habyt, which provides flexible housing alternatives, recently announced that it has completed a Series C round of fundraising in which it collected €40 million. Korelya Capital and Deutsche Invest headed the round. In addition to Exor Ventures and Endeavor Catalyst, existing shareholders of Habyt, such as P101 and ITALIA 500-Azimut, participated in the investment round.
According to Habyt, it plans to utilize the cash to continue its worldwide development, solidify its rising market position, and strengthen its environmental, social, and governance (ESG) activities. The company claims it will soon roll out new technological enhancements to its platform, making the entire home transaction even smoother.
“Despite a drop in series C rounds across the board this year,” says Luca Bovone, founder and CEO of Habyt, “we have seen exponential growth and raised a significant series C with support from existing and new investors.” “We raised a significant series C with support from existing and new investors,” he continues.
At the beginning of this year, Habyt completed the acquisition of Common Living, a significant participant in the market for shared living in North America. In 2022, Habyt completed the acquisition of Hamlet, a co-living platform in Singapore. This strategic move comes as a result of the transaction.
This year, Habyt expanded its company to include managing 30,000 housing units in more than 50 cities on three continents. In addition to that, it predicts an increase in net revenue of 40 percent. The young company announced that it had achieved profitability in most of its primary markets. It aims to become profitable at the group level by the beginning of the following year.
Contributing to the resolution of the housing crisis
Finding adequate accommodation, whether short- or long-term, may be difficult for young people worldwide. There is a substantial gap between the demand for and availability of homes. At the same time, interest rates on mortgages are rising, making it more difficult for people in this age bracket to acquire quality homes.
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By employing digital technology to standardize the housing process, Habyt hopes to improve the renting experience for occupants of rented properties. The new company does away with stages not essential to getting accommodation, such as the cumbersome paperwork. Travelers, locals, and professionals all have the opportunity to take advantage of its versatile living possibilities.
Renters have the option of choosing between communal and private living spaces based on their individual preferences and the constraints of their budget. Because we want your move to be as stress-free as possible, every Habyt unit comes completely equipped.
To get the ball rolling, a prospective renter must fill out an online application to reserve the housing they want. The sales staff at Habyt will contact the applicant to finalize the reservation details.
After that, the renter is responsible for signing all required paperwork and selecting a move-in date for themselves. Habit will provide instructions for the move-in procedure. All of these tasks may be completed over the Internet.
Global presence in strategically important markets
Investors who took part in the Series C financing effort for Habyt have expressed their confidence that the company can maintain its rapid expansion thanks to the novel solutions it develops.
“Habyt is solving the ever-growing global problem of access to housing with a digital-first solution appealing to young local families and mobile professionals alike,” says Franco Danesi, partner at Korelya Capital, who joins Habyt’s board of directors. “Habyt is offering real estate developers and investors an innovative and compelling product,” says Danesi. “Habyt is offering a digital-first solution appealing to young local families and mobile professionals alike.”
“What truly excites me is Habyt’s unparalleled global footprint and significant presence in the US, Europe, and Asia,” says Danesi.
Armin Weiland, managing director of Deutsche Invest and another board member of Habyt, highlights the company’s capacity for growth despite the current “challenging” environment.
“With the current momentum and remarkable net revenue increase, a trajectory to profitability in 2024 is the next clear big goal with an ongoing focus on unit economics and the profitability of each asset,” adds Weiland. “This is the next clear big goal with an ongoing focus on unit economics and the profitability of each asset.”
