Apartment rental specialist Bob W has added to an earlier seed round with €6 million in extra funding.
The Helsinki, Finland-based company, which offers a tech-driven apartment concept, initially secured €4 million in seed funding in 2020.
The investment was led by Founders VC and private equity firm Finnish Industry Investment.
Niko Karstikko, co-founder and CEO of Bob W, says the funds will go into developing the company’s tech platform as well as recruitment and expansion into new markets in Europe.
He adds that the company, which has properties in Estonia and Finland, managed to increase its revenue in 2020 despite the pandemic and that occupancies were three times higher than that of hotels.
“We serviced thousands of guests and hundreds of companies. Our customer satisfaction is high as evidenced by our 93 NPS compared to the average of 37 for hotels. Last year, we also launched our own tech platform and grew our team from six employees to 30. We expect to double that by the summer.”
Bob W also plans to open its first apartments in London in late-2021.
The company is one of a number of newer accommodation rental concepts that combine contactless solutions with a local feel through decor provided by artists and manufacturers from the community.