HousingAnywhere raises €24m and buys Dutch rental platform
- In PropTech
- 12:36, 03 February 2021
- 765 Views
HousingAnywhere, a European rental accommodation marketplace for young professionals and international students, has raised €24 mln in a Series C funding.
The new capital will be used to finance the acquisition of Dutch rental platform Kamernet, its fourth acquisition in a year and largest acquisition to date.
The new capital was secured through a series of financing events over the past 12 months with all of HousingAnywhere’s investors participating. Ergeny Investments, a single family investment firm, joined as a new investor in January 2020 and participated in a new equity investment with current investors VNV Global and Real Web, which led the round. Early-stage investor henQ Capital sold their stake.
‘While having devastating effects on international mobility, the pandemic offered us the opportunity to further develop our product. It enabled us to improve our contribution margins and explore local rental markets while accelerating the inevitable consolidation of the market,’ said Djordy Seelmann, CEO at HousingAnywhere. ‘Despite turbulent market conditions, we managed to improve our business model, solidify the confidence of our investors and attract new capital.’
The acquisition of Kamernet marks HousingAnywhere’s fourth acquisition in 12 months. After the acquisition of market leaders in Germany, Italy, the Netherlands, and Iceland, HousingAnywhere’s VP of Marketplace and person responsible for M&A, Gianluca Valentini, doesn’t set a limit to the company’s ambitions for the future. ‘We are far from finished,’ said Valentini. ‘Our M&A team is looking to acquire more rental websites, to expand in audience and number of properties that fit the needs of our ever-growing user base.’