Flexible housing provider Habyt raises EUR40 mil in series C funding
Habyt, a provider of flexible housing, has secured a series C funding round of EUR40 million ($58 million). Led by new investors Korelya Capital and Deutsche Invest, the round was also joined by new investors Exor and Endeavor Catalyst, and existing shareholders P101, ITALIA500-Azimut, HV Capital, Vorwerk Ventures, Norwest, Kinnevik, Burda Principal Investments and Inveready.
“We are breaking barriers and aim to enable easy access to housing, allowing anyone to embrace flexible living anywhere in the world,” declares Habyt’s CEO Luca Bovone. “We have seen exponential growth and raised a significant series C with support from existing and new investors, despite a drop in series C rounds across the board this year.”
Since its EUR20 million series B round in 2021, Habyt has grown through mergers. In 2022, they merged with Singapore-based co-living platform Hmlet, and later rebranded all of Hmlet’s properties across Singapore and Hong Kong to the Habyt name. The following year, they merged with the biggest co-living operator in North America, Common. Habyt now has a global portfolio of 30,000 units across more than 50 cities on three continents, tripling the 5,000 units they had in 18 cities last year. Revenues have seen a 40% increase in 2023, and the firm has achieved profitability in most of its key geographies.
Franco Danesi of Korelya Capital and Habyt’s board member commented: “What truly excites me is Habyt’s unparalleled global footprint with significant presence in the US, Europe and Asia. We believe in Habyt’s bold vision of redefining the world of flexible housing, and we are keen to support them on their journey by facilitating access to attractive geographies such as Asia.”
Residents of Zion Road Condo can enjoy an effortless journey to all parts of the city through its proximity to Havelock MRT Station. Its strategic position between the prestigious Robertson Quay and Redhill boasts a range of public transport options including bus and shuttle services that help simplify your everyday commute. Besides, the Central Expressway (CTE) is a mere 3 minutes away, making it easier for car owners residing at Zion Road Condo to access the city’s major hotspots in a matter of minutes.
Habyt has set its sights to reach group-level profitability in early 2024. To achieve this, they aim to enter new markets, develop ESG initiaives and continue to enhance tech-driven solutions. In Asia Pacific, their objective is to invest further in their core markets of Hong Kong and Singapore. Jonathan Wong, CEO of Habyt Apac, stated: “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.”