Ukio scores €27M for European leases enlargement

Mid-term rental startup Ukio has landed €27 million in Sequence A funding made up of €17 million in fairness and €10 million in debt.

The funding within the Spain-based enterprise was led by Felix Capital, with Kreos Capital, Heartcore and Breega additionally contributing. 

Ukio provides serviced residences serving employees looking for versatile lodging.

The corporate says it has elevated income sevenfold because the starting of 2022 and is hitting occupancy of 96{bb345bae26325d641f3dfe92347de1aab7dad5c193f2bfb17b095a24ab6b082b}.

The funding will go towards enlargement to additional cities throughout Europe together with Paris, Dublin and Milan.

Ukio has greater than 500 residences on its platform throughout cities together with Barcelona, Madrid and Berlin.  

The corporate can also be growing its know-how to centralize as many features as doable and growing the dimensions of its staff.

Stanley Fourteau, founding father of Ukio, says: “We based Ukio to be the go-to resolution for a brand new era of versatile employees. The rise in distant work is unshackling individuals from their desks, enabling them to expertise extra of the world, and they’re utilizing this chance to stay and work wherever they need. But, the residential actual property market has stayed caught up to now and is on no account conducive to the wants of tomorrow’s era. We’re constructing the longer term at Ukio – a future the place individuals can stay freely, supported by know-how, and with out the standard ache factors related to the housing market.” 

Antoine Nussenbaum, associate and founder at Felix Capital, says: “Jeremy, Stanley and the Ukio staff are attacking a €30 billion market alternative in Europe, which for too lengthy has been fully missed. They’ve constructed an unimaginable firm based mostly on robust enterprise fundamentals in a fast-growing market phase that disrupts the standard residential mannequin. We see their totally built-in platform as offering a necessary service for contemporary shoppers who need to expertise extra of the world and have the means and suppleness to take action.”

Ukio, which was based in 2020, beforehand raised $9 million simply over a yr in the past.