Switzerland-based Serviced Apartments Platform AG, which first invested in the German startup Acomodeo in 2020, has fully acquired the serviced-apartment provider, according to Acomodeo.
Terms of the agreement were not disclosed.
The management of Serviced Apartments Platform AG will take over Acomodeo operations from founder Eric-Jan Krausch and managing director Peter Ashworth as of September 1, 2021.
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"It has been a turbulent year," Krausch says in a statement. "Due to refinancing needs in the middle of the corona crisis, we were dependent on new shareholders. In addition to the support from customers and suppliers, it was the backing of Serviced Apartments Platform AG that got us through this challenging time and enabled us to continue to further develop and grow."
Anja Graf, chair of the board of directors for Serviced Apartments Platform AG, plans to further expand the company's digital marketplace for serviced apartments and is investing in international sales offices, according to the statement.
Earlier this year, Acomodeo had integrated with Concur Travel and partnered with Booking.com.
* This article originally appeared on BTN