BoB W raises 21€M in Series A funding round
Photo: BoB W team
Bob W is a short-stay accommodation which caters to the 21st-century traveler who wants it all: the consistent quality of a hotel and the authentic flair and affordability of a short-stay rental. They combine the best of both worlds in their tech-powered and sustainably operated properties in Europe’s most interesting neighborhoods.
Three of EstVCA's members – Superangel, Kaamos, and United Angels VC have already made an investment into Bob W in their previous round.
Bob W is a short-stay accommodation which caters to the 21st-century traveler who wants it all: the consistent quality of a hotel and the authentic flair and affordability of a short-stay rental. They combine the best of both worlds in their tech-powered and sustainably operated properties in Europe’s most interesting neighborhoods.
Three of EstVCA's members – Superangel, Kaamos, and United Angels VC have already made an investment into Bob W in their previous round.
Based in Helsinki and Tallinn, Bob W services consumers as well as companies, including international start-ups and next-generation enterprises in fields such as tech and creative industries. Despite being founded just before the pandemic, they have quickly become a rising star in the hospitality space, seeing their year-on-year revenue grow by 800%, along with excellent margins, while achieving an average guest rating of 4.8 (out of 5) and net promoter score of close to 90.
The series A funding comes as a vote of confidence in their ground-breaking concept: tech-powered short-stay apartments that combine hotel-like quality with the authenticity of individual rentals. Besides funding expansion into new and existing markets, there will be investments made into scaling its autonomous full-stack tech platform.
Niko Karstikko, co-founder and CEO of Bob W, comments: “Our goal is to use the funds to create a new industry benchmark for digital experience, and to support our explosive growth in new European markets beyond the UK, Spain, Finland and Estonia, where we currently operate."
“We have demonstrated, despite the challenging business and investment climate, that we can deliver a strong performance, which is reflected in our ability to raise capital. The resilience that we have shown, underpinned by our unique concept, robust tech platform and genuine sustainability credentials, sets us up perfectly for future expansion, whether through organic growth or mergers and acquisitions."
“We are resetting the expectation of hospitality for the consumer and now we can expand our reach across Europe with over 20 cities in our expansion pipeline.”
The Bob W brand is taking head on the challenge of gaining a market leadership position in the tech-enabled hospitality operation space.
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