Flexible housing provider Habyt raises EUR40 mil in series C funding

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Habyt, a leading provider of flexible housing, has raised EUR40 million ($58 million) in its series C funding round. This round was led by new investors Korelya Capital, a Paris-based investment firm, and Germany’s Deutsche Invest. Existing and new investors combined contributed substantially to the funding round. Luca Bovone, CEO of Habyt, shared his enthusiasm for the success in a statement: “We are breaking barriers and aim to enable easy access to housing, allowing anyone to embrace flexible living anywhere in the world.”

Since its EUR20 million series B round in 2021, Habyt has seen an impressive growth powered by a series of mergers, including with Singapore-based co-living platform Hmlet and North America’s biggest co-living operator Common. This brought Habyt to a total of 30,000 units across more than 50 cities on three continents and a net revenue rise of over 40% in 2023, with the firm profitable “in most key geographies”.

Franco Danesi, partner at Korelya Capital and Habyt board member, highlighted the firm’s unique asset: “What truly excites me is Habyt’s unparalleled global footprint with significant presence in the US, Europe and Asia.” Moreover, the new funding will also enable Habyt to expand its portfolio to new markets and develop ESG (environmental, social and governance) initiaives.

Jonathan Wong, CEO of Habyt Apac, commented on the firm’s potential in the 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.” Targeting to be profitable at the group level in early 2024, Habyt is preparing to embark on a new chapter with the support of its existing and new investors.