Apartment rental business Bob W has raised €21 million in Series A funding.
The round for the Helsinki-based business was led by IDC Ventures, Elevator Ventures, Verve Ventures and Flashpoint.
Founded in 2019, Bob W provides short-stay apartments to travelers with a focus on technology and hotel-style services.
The investment will go toward further expansion into new and existing markets as well as the development of the company’s tech platform.
Bob W has made a number of acquisitions this year including Estonia’s Estonishing Stay and Finland-based Koti Hotel.
Niko Karstikko, co-founder and CEO of Bob W, says: “Our goal is to use the funds to create a new industry benchmark for digital experience, and to support our explosive growth in new European markets beyond the U.K., Spain, Finland and Estonia, where we currently operate.
“We have demonstrated, despite the challenging business and investment climate, that we can deliver a strong performance, which is reflected in our ability to raise capital. The resilience that we have shown, underpinned by our unique concept, robust tech platform and genuine sustainability credentials, sets us up perfectly for future expansion, whether through organic growth or mergers and acquisitions.
He adds that the company has more than 20 cities in Europe in its expansion pipeline.
In April 2021, Bob W raised €10 million in seed funding.