Peruvian startup Wynwood House has just closed a $7 million round between equity and debt.
The round was led by Chilean firm FEN Ventures and Salvadoran firm Innogen Venture Capital.
Wynwood House is an apartment rental startup based in Peru that promises to be a hybrid between “the comfort of traveling to a friend’s house and a 5-star hotel”.
Co-founded in late 2019 by Ignacio Masias, a former Mckinsey executive who comes from a family linked for generations to tourism, the Peruvian startup was able to identify a market opportunity amid the strong growth in demand for apartments on Airbnb in Latin America: there was no brand that guaranteed the quality of the spaces.
Today, Wynwood House manages more than 850 leased units (apartments leased under its brand) in four Latin American countries (Peru, Colombia, Mexico and Panama).
In addition, it has quadrupled its growth in the last twelve months and has surpassed 10,000 customers per month.
The apartment rental startup plans to grow from 850 units to 2,500 units next year.
The fresh funds will be used to multiply its growth fivefold and to expand beyond Latin America.
Wynwood House also plans to lease units in Chile (Santiago) and Spain (Madrid) in 2023.
It is also evaluating the opening of units in the U.S. (Miami) by the end of next year or in 2024.
They have also launched a B2B segment called “Casa Wynwood”, which is a mix between a boutique hotel and a clubhouse.
This segment represents more than 20% of its bookings, which considers longer stays.
Casa Wynwood has two units located in Mexico City (Roma Norte) and Lima (Barranco).
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