Berlin’s Habyt, the Flexible Housing Provider, Acquires €40M via Series C to Expand Operations Globally

Habyt, the flexible housing provider, has raised €40M in a series C round as it expands globally and consolidates its market share.

This investment round is “led by the new investors Korelya Capital (Paris-based) and Deutsche Invest (Munich-based). It was also participated by new investors Exor Ventures, Endeavor Catalyst, and existing shareholders P101, ITALIA500-Azimut, HV Capital, Vorwerk Ventures, Norwest, Kinnevik, Burda Principal Investments, and Inveready.”

Since its series B in 2021, Habyt has “strengthened its position as the world’s main flexible housing company in a chain of mergers and acquisitions, and has broken into North America and Asia markets.”

In 2023, Habyt acquired “a key player in the North American market – Common Living, adding to its earlier 2022 acquisition of Hmlet.” Habyt has grown “from 5,000 units in 18 cities last year to 30,000 units across 50+ cities in three continents.” In 2023, it saw a net revenue increase of “over 40%, and is profitable in most key geographies with group level profitability targeted for early 2024.”

Luca Bovone, CEO of Habyt, commented:

“We are breaking barriers and aim to enable easy access to housing, allowing anyone to embrace flexible living anywhere in the world. We have seen exponential growth and raised a significant series C with support from existing and new investors, despite a drop in series C rounds across the board this year.”

Many young people across the world are currently struggling with a critical lack of housing as demand vastly outstrips supply and mortgage interest rates are sky-high.

At the same time, there are 35 million digital nomads globally “for whom simple, flexible solutions offer a way around restrictive local renting laws.”

With 70% of Habyt’s clients being internationals relocating “for study or work, and 30% local citizens, the company is creating the rental experience of tomorrow by standardizing the housing process with a digital-first approach, offering high-quality, flexible living options for travelers, locals, and professionals.”

Habyt’s diverse selection of co-living, homes – and now, hotels, “gives people the convenience and flexibility to unlock their next move, and settle into different cities on their own timescale, with minimal admin.”

All of the company’s flats “come fully furnished and equipped for a comfortable lifestyle, making it the easiest housing solution on the market.”

With its new round of funding, Habyt aims to “continue expanding its portfolio entering new markets, further developing ESG initiatives, and enhancing tech-driven solutions to meet the evolving needs of residents, making renting with Habyt even easier.”

The company’s customers will “see multiple updates in the mobile App unveiled in the near future and a refined browsing and booking experience for an even smoother onboarding.”

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