Alternative accommodation provider Bob W has raised €21 million in series A funding and plans to use the money to expand in new and existing markets, as well as scaling its technology platform.
The funding round was led by led by IDC Ventures, Elevator Ventures, Verve Ventures and Flashpoint.
Based in Helsinki and Tallinn, Bob W caters for consumers as well as companies and operates short-stay apartments that it says “combine hotel-like quality with the authenticity of individual rentals.”
Earlier this year it bought Estonia’s short-stay serviced apartment operator, Estonishing Stay Apartments.
Bob W previously raised €10 million in seed funding in 2021.
What they said
Niko Karstikko, co-founder and CEO of Bob W, said: "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 UK, 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.
"We are resetting the expectation of hospitality for the consumer and now we can expand our reach across Europe with over 20 cities in our expansion pipeline."