Munich-based limehome, a serviced apartments provider, announced that it has secured €45M in new growth capital from new investors AW Rostamani Group and Capital Four.
Existing investors HV Capital, Picus Capital, and Lakestar also participated in the round.
limehome says it will primarily use the capital to accelerate expansion and enhance organic growth, scalability, and high service levels by developing its proprietary technology platform.
In addition, a part of the funds will go towards acquisitions of existing operators, says the company.
Founded by Dr. Josef Vollmayr and Lars Stäbe in 2018, limehome turns commercial spaces into apart-hotels and operates them on their tech platform for business and leisure travelers.
Through its proprietary operating platform, the company automates all the conventional processes of a hotel’s operation, from pricing to booking, check-in, cleaning, customer service, and invoicing.
Since its inception, the company has expanded into more than 100 locations across Germany, Austria, The Netherlands, Belgium, Spain, Portugal, and Hungary, and has more than 3,000 apartments under contract in seven countries.
limehome claims that the occupancy rates across its portfolio have been around 90 percent, with high profitability across all locations for over a year.
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