An investment of €27 million has just been made in the Barcelona-based startup Ukio for its rental platform that offers wholly furnished and serviced residences. The startup now has hopes to grow throughout Europe and establish itself as a household name for contemporary living.
The €27 million Series A round, made up of €17 million in equity and €10 million in debt funding was led by Felix Capital, with support from Kreos Capital, Heartcore, and Breega. The startup’s revenue has increased 7X year over year since 2022 began, and it now boasts 96% occupancy.
Since the epidemic, society’s perspectives on employment, the home, and lifestyle have undergone a significant change. In particular, it has sparked a drive toward flexible and remote employment becoming the rule rather than the exception. This in turn has fueled a movement toward flexible living, where people choose homes that are comfortable, convenient for technology, and meet their demands.
The number of people who work and live flexibly has tripled throughout Europe, since the epidemic. Offering this way of life is becoming a priority for many internet businesses. People today find that working remotely means they are more productive, more communicative with their teammates, and less likely to burn out.
Flexibility in working hours is common, but on-the-go workers haven’t been given the same support, which is projected to be a $30 billion opportunity in Europe alone.
Ukio, a company established in Barcelona, is attempting to fill this market void. The 2020-founded rental firm has recently obtained further money to grow. We recommended that you keep a watch on this startup this year, and it hasn’t let us down.
The need for housing for these workers—who are frequently young, forward-thinking, and mobile—has increased significantly as the remote and flexible working revolution continues to spread and becomes the standard of the working world.
Renting in Europe is fiercely competitive and has been for some time, which makes it even more difficult to find housing for this expanding population. Traditional lengthy and antiquated contracts are also unsuitable for the needs of flex workers, who may be entrepreneurs, remote workers, or international professionals staying in a city for little more than six months.
Stanley and Jeremy Fourteau founded Ukio to remedy this.
“Finding and renting an apartment for a month or longer is still tremendously hard and time-intensive for modern customers who are used to doing everything online,” said Jeremy Fourteau, creator of Ukio. To meet this difficulty, Ukio was established. We’re creating exclusive software tools that will make it simpler than ever for people to locate the ideal place to stay, streamline their search, and produce the necessary goods and services to offer a high-end service to our visitors.
To reinvent the housing experience, the rental startup offers a selection of designed apartments. With a home wherever they travel, the goal is to enable five individuals to fully experience new environments. The turnkey apartments from Ukio provide all the conveniences and home comforts in top locations around Europe.
Ukio can offer a high-end experience to visitors while also giving landlords a steady supply of long-term income. From search to stay, a seamless digital experience powers everything.
With Ukio, you may book directly through its web platform a growing selection of 500+ handpicked apartments in destinations ranging from Barcelona to Madrid, and Lisbon to Berlin. Over the next months, this offering will be expanded to more European cities such as Paris, Dublin, Milan, and London thanks to the Series A funding.
According to Stanley Fourteau, the company’s founder, Ukio was created to be the go-to choice for a new generation of flexible workers. People can travel more because of the rise of remote employment, and they are taking advantage of this freedom to live and work wherever they like. However, the residential real estate market hasn’t changed and is in no way suited to the requirements of the next generation.
“We’re developing the future at Ukio,” continued Stanlye, “a future in which people may live freely, aided by technology, and free from the normal pain points related to the housing market.”
The apartments are superior in terms of comfort, design, and being environmentally friendly and sustainable. According to the start-up, all furnishings were purchased from eco-friendly vendors, and the flats were powered by renewable energy.
Ukio is constructing a tech stack to consolidate and optimize as many functions as it can as it pursues its goal of being a recognized name in housing around the world. This entails expanding its in-house proprietary software tools and improving crucial aspects like its automated monthly rental membership. These instruments are made to enhance Ukio’s platform and enable it to expand its solution across Europe.
The company will be able to expand its internal and on-the-ground staff, particularly its tech specialists, thanks to this most recent round of fundraising. By the end of 2023, it will also be utilized to expand throughout more of Western Europe and make platform improvements as well as create a B2B solution tailored to rising international firms.
“Jeremy, Stanley, and the Ukio team are addressing a €30B market opportunity across Europe, which for far too long has been entirely disregarded,” stated Antoine Nussenbaum, Partner and Founder of Felix Capital. They have created a remarkable firm founded on sound commercial principles in a quickly expanding market that challenges the conventional residential model. For us, their completely integrated platform offers a crucial service for contemporary consumers who desire to travel more and have the resources and freedom to do so. We’re ecstatic to support them and watch them expand to new cities in 2023.
Image Credit: Ukio
