Bob W, the the technology-driven apartment rental startup, has secured Series B funding of €40 million.
The investment in the Finland-based company was led by Evli Growth Partners with Taavet+Sten, Flashpoint and existing investors also participating.
Bob W operates apartments across 10 countries and 17 cities in Europe. The company acquired Estonishing Stay and Koti in 2022 followed by Charly Hospitality in 2023. Founded in 2019, the company opened 20 new properties across 11 cities in Europe in 2023, it said in a statement.
Niko Karstikko, co-founder and CEO, said, “There is a surging demand for locally rooted, seamless travel experiences that technology enables. Yet the short-term rental sector has had a shortage of standards and professional operators who can offer local authenticity, hotel-grade quality and tech to elevate the experience. At Bob W, we are leading this category. Our growth and market-leading customer satisfaction prove that we are heading in the right direction. With support from our investors, we're eager and well-prepared to enter into a new phase of our company's growth and expand the Bob W travel experience across Europe.”
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He added that the company is “excited to scale up and solidify our expansion across Europe” with the funding enabling it to further develop its technology and recruit more talent.
Mikael Hed, growth partner at Evli Growth Partners, said, "The hospitality industry needs bold disruptors like Bob W. The team is a pioneer in the new hybrid hospitality category, offering authentic, seamless travel experiences enabled by cutting-edge technology. Bob W's growth demonstrates the team's unique understanding of customer needs. We are excited to support the team in their next growth phase.”
Bob W announced Series A funding of €21 million in October 2022. Total funding to date is €70 million.