Berlin-based flexible living space provider Habyt has secured €40 million in funding to fuel Habyt expansion efforts across key global markets.
The round was headed by Mars Growth Capital, a partnership between MUFG and Liquidity Group. Additionally, numerous investors, including Norwest, Endeavor Catalyst, Kinnevik, Picus, Mitsubishi Estate, Inveready, Korelya Capital, Capmont, P101, Vorwerk Ventures, Exor, Burda Principal Investments, and HV Capital, back Habyt.
The fresh funding will help Habyt carry out its expansion plan, which will center on strategic acquisitions to bolster its position as the industry leader in important areas. Moreover, this funding demonstrates Habyt’s trajectory toward cash flow positivity and its yearly net revenue increase, as the company aims to reach group-level profitability this year.
The German business also wants to increase the amount of EBITDA-producing assets in its portfolio, and by year’s end, it hopes to have completed at least one acquisition.
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The CEO and founder of Habyt, Luca Bovone, said:
“We are in a strong position to seek strategic partnerships to increase our market share and fuel our long-term profitability with this additional funding. Naturally, flexible living is a concept that supports sustainable financial growth and provides highly sought-after solutions in urban settings across the globe. We have been consistently pleased by Liquidity Group’s prompt execution and data-driven methodology during the due diligence stage of this process.”
Since its foundation, Habyt bills itself as the world’s leading provider of flexible living spaces, with accessible housing options for both extended and temporary stays. At the moment, the organization oversees about 30,000 residential units in over 50 locations in Europe, Asia, and the United States.
Liquidity Group’s Director of Europe, Justin Langen, states:
“Habyt’s scalable model and strong unit economics have proven to be a major disruptor in the global rental market. We are excited to start what we view as a long-lasting investment engagement with Mars and Liquidity as they continue to expand their footprint in Germany and throughout Europe, and we intend to continue supporting Habyt in its efforts to achieve sustained profitability.”
Liquidity claims it will keep its attention on the region even with the growing possibilities in Germany and Europe. Further, this is Liquidity’s second significant transaction in Germany this year. It is a part of the Mars Unicorn fund.
