Spanish short-term furnished apartment rental platform Ukio has raised €27 mln during a Series A funding round, consisting of €17 mln in equity and €10 mln in loans.
Led by Felix Capital, the investment round included Portuguese venture capital management company Bynd Venture Capital, Breega, Partech, Heartcore Capital, and Kreos Capital.
The Barcelona-based start-up operates a network of high-quality, design-forward apartments available for monthly rentals across Europe.
The portfolio includes 220 homes in Barcelona, 130 homes in Madrid, 100 homes in Lisbon, and 50 homes in Berlin.
Properties in Paris will be added by the end of 2022, with homes in Milan being offered by winter 2023.
Stanley Fourteau, co-founder of Ukio, said: ‘Finding and renting a flat for a month or more is still incredibly complex and time-consuming for modern consumers who are used to doing everything and anything digitally. Ukio was created to overcome this challenge.’
Francisco Ferreira Pinto, partner at Bynd Venture Capital, added: ‘Ukio brought a model fully adapted to the new work trends, and its growth in just two years demonstrates its suitability to the real needs of the market.’
Since the start of 2022, Ukio said that it has seen seven-fold revenue growth year on year, with a 96% occupancy rate across its listed properties.
With the latest investment, Ukio plans to strengthen its strategic position in Europe, increase employee numbers and further develop the platform.
