Germany’s limehome raises €45M to digitise and design serviced apartments in Europe

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Munich-based limehome, a serviced apartments provider, announced on Tuesday 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. 

“Our two new investors appreciate high growth and a highly profitable existing business. We are delighted with their confidence in our vision and feel confirmed that we are on the right track to develop limehome into a highly profitable technology-based operator of design serviced apartments,” says Cesar de Sousa Freitas, Managing Director of limehome.

limehome: What you need to know

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 travellers. 

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 per cent, with high profitability across all locations for over a year. 

“The last few years have shown that our fully equipped design serviced apartments with a digital customer journey and consistent quality are very popular in leisure and business segments. With the support of our investors, we will continue to develop our concept and bring it to new markets,” adds Dr. Josef Vollmayr, co-founder and Managing Director of limehome.

Investor

Based out of Munich and Berlin, HV Capital is a venture capital firm investing in internet and technology companies through various generations of funds since 2000. 

The VC has invested in more than 190 companies, including Zalando, Delivery Hero, FlixMobility, and Scalable Capital, amounting to €1.1B.

The German VC supports startups with capital between €500,000 and €50M.

“We invested in limehome’s innovative business model at an early stage. We see this confirmed by the company’s exceptional development. We are convinced that limehome will continue to expand its leading position as a technology-based operator in Europe through its clear concept and strong implementation,” says Fabian Gruner, Principal at HV Capital.

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