-Unaffordable housing is a 21st-century global issue. As demand from ever-growing urban populations and fragmenting households fast outstrips supply, badi comes in with a smart solution to unlock available rooms through Europe.
-Badi has hit over 12 million room rental requests since first launching in 2015.
-The funding is being led by Silicon Valley VC Goodwater Capital, making its first investment into a Spanish startup along with Target Global and returning VCs Spark Capital and Mangrove Capital.
Barcelona, January 10, 2019: Badi, the leading room-rental marketplace that makes city living accessible, has today announced a $30M Series B, led by Goodwater Capital, a US-based consumer tech VC firm that previously invested in companies like Spotify, Twitter and Facebook. This new round will bring badi’s funding up to $45M.
In this last round, Shmuel Chafets from Target Global VC has also participated along with returning VCs Mangrove Capital and Spark Capital.
Additionally, Tao-Tao, COO of one of the booming German tech companies GetYourGuide will be joining badi’s board which is currently formed by Alex Finkelstein from Spark Capital, a prestigious US venture firm that previously has invested in companies like Slack, Oculus, Coinbase & Twitter; Nikolas Krawinkel from Mangrove Capital Partners, one of Europe’s most successful VCs who has invested in Skype & Wix.com, Didac Lee, an outstanding Spanish entrepreneur and Carlos Pierre, CEO of badi.
Real estate is the largest commodity in the world, with an estimated $217 trillion valuation. Home ownership in Europe has collapsed within 20 years, so more and more people are looking for non-binding and flexible accommodation option. However, the offering is not responding to demand, which is why the price of rents are continuing to increase.
Badi has already championed London as one of the most important cities to invest in, largely due to it being continually named as Europe’s most expensive city to rent over the past few years. Badi has already seen success in Spain for the same reasons, as the rental market has grown by 130% in the last 10 years and represents 23% of the entire real estate industry, making Barcelona and London a huge focus for the room rental marketplace.
Paris, Berlin and Rome are also strongly on the brand’s agenda thanks to their constant growth, size and high rental prices. Currently, private rentals represent 21% of Rome’s market, 23% of Paris’ market, and 40% of Berlin’s market, highlighting the demand for badi’s sophisticated solution. The Series B funding will allow the company to continue to further expand into all of these leading European markets and make smart-city-living a viable option.
The new capital will enable the company to consolidate its services in Barcelona, Madrid, London, Paris and Rome and open new markets in major European cities starting with Berlin. The investment will also be used to expand the core team up to 100%, open new offices in London and develop new extra services to make the life of landlords and tenants easier.
Badi sets itself apart as an end-to-end platform that connects landlords with room seekers by using AI. The brand has already hit 12 million rental requests since launch and is not stopping there – badi is on a mission to become the world’s largest and most innovative real estate marketplace, kicking-off the 2019 with Series B!