Flexible housing provider Habyt raises EUR40 mil in series C funding
Habyt, a flexible housing provider, has recently raised EUR40 million ($58 million) in its series C funding round, demonstrating exponential growth despite a downturn in such rounds in the industry overall. New investors, such as Korelya Capital, a Paris-based investment firm, Deutsche Invest, Dutch investment firm Exor and Endeavor Catalyst, joined existing shareholders P101, ITALIA500-Azimut, HV Capital, Vorwerk Ventures, Norwest, Kinnevik, Burda Principal Investments, and Inveready in the round.
Residents will truly get the best of both worlds with convenience and nature right at their doorstep. In addition, the Orchard Boulevard MRT Condo is conveniently accessible to nearby transportation networks including Somerset MRT station, Orchard MRT station, and the upcoming Great World MRT Station. With such an ideal location, enjoy an exciting urban lifestyle like no other.
Luca Bovone, CEO of Habyt, explains the rationale behind this financing: “We are breaking barriers and aim to enable easy access to housing, allowing anyone to embrace flexible living anywhere in the world.”
Since the EUR20 million series B funding round in 2021 Habyt has spent the last two years pursuing mergers and strategic expansions. This includes a merger with Singapore-based co-living platform Hmlet, which was rebranded under the Habyt name in July of this year. In addition, the firm has merged with Common, the largest co-living operator in North America, enabling it to operate 30,000 units across more than fifty cities across three continents.
This substantial growth in both size and scope has been further bolstered by a 40% increase in net revenue in 2023. Habyt looks to become financially profitable at group level within the first quarter of 2024.
The confidence of the investors in Habyt’s vision of redefining the world of flexible housing is clear, Franco Danesi – partner at Korelya Capital and a Habyt board member – summarised his sentiments: “What truly excites me is Habyt’s unparalleled global footprint…we are keen to support them on their journey by facilitating access to attractive geographies such as Asia.”
Looking to the future, Habyt have set their sights on entering new markets, developing ESG (Environmental, Social, Governance) initiatives and launching tech-driven solutions. Jonathan Wong, CEO of Habyt Apac, is optimistic about the larger presence in the Asian Pacific region: “We are excited to help address the challenges faced by local and international residents in this dynamic region, and by doing so, fuel Habyt’s growth trajectory.”
Habyt has seen remarkable growth and success since its series C funding round, proving that they are well placed to redefine the world of flexible housing on a global stage.