Coliving company Habyt has closed a Series B round of funding totaling $24 million as it continues to dominate the EU’s coliving market.
In addition to the funding, Habyt has merged with its competitor Homefully. The company had previously acquired other competitors such as Quarters, Goliving and Erasmo’s Room.
Now, the operator will have over 5,000 units across 15 cities and 6 countries, offering fully-furnished living accommodations as well as a tech-centric experience aimed towards young professionals.
“In spite of less than perfect market conditions we have been able to grow a lot via a very successful M&A strategy that brought us into the position of leaders of our sector in Europe and that still has a lot of potential,” said Luca Bovone, Founder and CEO of Habyt. “We are now looking at strategic targets in Europe, specifically in France and Italy, and also in other continents, especially in Asia.”
Habyt operates on a subscription-based model, where users pay a monthly rent and can move to other Habyt rooms or locations easily.