Blueground acquisition builds on monthly, furnished rentals network

New York-based global proptech company Blueground is acquiring Nestpick, creating an exclusive partner network of more than 18,000 curated, third-party furnished apartment providers around the world.

Terms of the acquisition were not disclosed. Nestpick is a digital platform containing thousands of furnished rentals around the world available for stays of 30-plus days. The platform had over 15 million users and generated $80 million in gross booking value in 2022, the companies said.

Blueground, which offers furnished, tech-enabled apartments that are available for stays of at least one month, will use Nestpick’s tech, integration infrastructure and expertise as a global platform to establish its partner network. It plans to launch with 18,000 units, with a goal of adding 50,000 through 2024.

CEO Alex Chatzieleftheriou co-founded Blueground 10 years ago to help people working away from home for extended periods feel settled and free to explore the world.

“Blueground has been building the future of living over the last decade with the goal of not only becoming the largest, curated global network for 30-plus day stays, but also supporting people in their journey to find and book high-quality, furnished rentals to explore the world easily,” Chatzieleftheriou said. “We are thrilled to welcome the Nestpick team to Blueground as we look forward to further developing the partner network and improving the rental experience for the 30-plus day sector.”

Nestpick currently works with 120 operators with connections to 40,000 listings around the world in the 30+-day sector. Blueground will bring into the partner network selected operators and their portfolios, such as Kasa and Placemakr. The partner network properties will be listed on Blueground’s website.

Founded in 2016, Nestpick will continue to operate as an independent platform. CEO Omer Kucukdere will join Blueground as vice president of the Blueground Partner Network.

“During the last seven years, Nestpick has connected millions of people with furnished rentals around the globe and achieved profitability - something we are very proud of,” Kucukdere said. “We are looking forward to joining the Blueground team as we believe in the company and the combined power of the two companies to impact the 30-plus day sector.”

This is Blueground’s third acquisition in the past twelve months, as the company previously announced the acquisitions of Brazilian proptech startup, Tabas, and on-demand furnished rental company, Travelers Haven.