Hospitality tech company Limehome has raised €45 million in funding.
The investment in the Germany-based business came from new investors AW Rostamani Group and Capital Four as well as existing investors HV Capital, Picus Capital and Lakestar.
Founded in 2018, Limehome says it has tripled turnover every year during the pandemic driven by growth in both the business and leisure segments.
The company, which has serviced apartments in more than 100 locations across seven countries, also says the funds will go towards expansion in additional European countries.
Limehome also plans to acquire existing operators and invest in its technology platform.
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Cesar de Sousa Freitas, managing director of Limehome, says: ”Our two new investors appreciate the combination of high growth and a highly profitable existing business. We are delighted with their confidence in our vision and feel confirmed that we are on the right track to develop Limehome into a highly profitable technology-based operator of design serviced apartments.”
Josef Vollmayr, co-founder and managing director of the company, adds: “The last few years have shown that our fully equipped, design serviced apartments with a digital customer journey and consistent quality are very popular in both the leisure and business segments.”
Limehome recently announced the opening of 45 units in Hungary’s capital Budapest.
The company announced Series A funding of €21 million in March 2020, €10 million in October 2020 and an investment of an undisclosed amount in November 2021.