Berlin-based Flexible Housing Startup Habyt Raises €40M, Aims to Reach Profitability in 2024

Date:

Key Takeaways

  • Habyt secures €40M in series C funding led by Korelya Capital and Deutsche Invest, with participation from several other investors.
  • Expansion into North America and Southeast Asia markets bolstered by acquisitions of Common Living and Hmlet.
  • Company growth increased from 5,000 to 30,000 rentals across over 50 cities on three continents.
  • DesignStudio redefined branding to resonate with Habyt’s mission of breaking barriers in housing accessibility.

Berlin-based startup Habyt recently raised €40M in a series C funding round.

According to a 150 Sec report, the round was led by Paris-based Korelya Capital and Munich-based firm Deutsche Invest.

Other notable investors include Exor Ventures, Endeavor Catalyst, and existing shareholders such as P101, ITALIA500-Azimut, HV Capital, and Vorwerk Ventures among others.

Habyt is one of the largest players in the rapidly expanding flexible housing sector, offering fully-equipped, ready-to-go rentals.

The company, initially a housing option for digital nomads, has seen a growing clientele among locals desiring high-quality, accessible rentals without fixed contract hassles.

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Market Expansion

Post its Series B closing in 2021, Habyt ventured into the North American and Southeast Asian markets through mergers and acquisitions.

Key acquisitions include Common Living in 2023 and Singapore-based startup Hmlet in 2022.

Habyt inaugurated its first hotel, The Waterfront in Berlin, catering to short-term housing and vacation stays.

In a span of a year, Habyt’s rentals soared from 5,000 in 18 cities to 30,000 across more than 50 cities on three continents, with a net revenue surge of over 40% in 2023.

Future Outlook

With fresh funding, Habyt eyes further expansion into new markets, especially targeting growth in the UK among other European markets in 2024.

The funding will also be channeled towards developing ESG initiatives, augmenting tech-driven solutions, and enhancing the mobile app for a refined user experience.

The report noted that Habyt’s CEO, Luca Bovone, expressed aspirations for enabling global access to flexible living, acknowledging the significant series C raise amidst a general downturn in such funding rounds this year.

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Brand Evolution

Entrusted to global brand studio DesignStudio, Habyt underwent a rebranding to align with its ethos of offering seamless housing solutions.

According to a Creative Boom blog post, the rebranding encapsulated Habyt’s core objective of easing the housing search, enabling individuals to seize opportunities and dwell anywhere, irrespective of their circumstances.

Central to the rebranding is the new logo symbolizing ‘unlocking opportunities’, complemented by a clean and legible typeface, Basis Grotesque.

What Do We Think

Habyt’s substantial funding and strategic market expansions underscore the escalating demand for flexible housing solutions worldwide.

The meticulous rebranding by DesignStudio likely augments Habyt’s vision of facilitating accessible housing.

With a roadmap for profitability in 2024 and a firm foothold in multiple global markets, Habyt is poised to redefine the flexible housing domain.

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