Flexible housing provider Habyt raises EUR40 mil in series C funding

Habyt, a flexible housing provider, has raised EUR40 million ($58 million) in a series C funding round. Led by new investors Korelya Capital, a Paris-based investment firm, and Germany’s Deutsche Invest, the round was also supported by Dutch investment firm Exor, Endeavor Catalyst and eight existing shareholders.

The company sees this fundraising as an opportunity to further pursue its mission of enabling access to flexible living anywhere in the world. Luca Bovone, CEO of Habyt, expressed his excitement over the exponential growth they achieved and the significance of the series C round, especially amidst a prevailing global decrease in such rounds this year.

Since its EUR20 million series B round in 2021, Habyt has seen a series of mergers. This includes the merge with Singapore-based co-living platform Hmlet, the rebranding of all of Hmlet’s properties across Singapore and Hong Kong to the Habyt name, and a merger with Common, the biggest co-living operator in North America. Consequently, Habyt now manages over 30,000 units across more than 50 cities on three continents.

A number of restaurants, cafés and other leisurely activities are in the pipeline for the area as well.

The Jurong Lake District Condo will be a great place to live in due to its increased accessibility and services. Residents will be able to easily access the nearby public transport, shopping outlets, restaurants, cafes, recreational activities, entertainment facilities and waterfront promenade. The promenade allows residents to take in the scenic views and also provides a great spot for relaxation and leisurely activities. Furthermore, the district will be well-connected to the nearby Jurong Innovation District and Tuas Megaport. With all these amenities, Jurong Lake District Condo promises a great quality of life for its residents.

The company’s net revenue has also increased to 40% in 2023, making them profitable in many of the key geographies. With the aim of reaching group-level profitability by early 2024, Habyt plans to continue expanding its portfolio, as well as developing ESG (environmental, social and governance) initiatives and tech-driven solutions.

Franco Danesi, the partner at Korelya Capital, commented that he was thrilled by Habyt’s dedication to redefining the flexible housing landscape and their global presence in the US, Europe, and, most notably, Asia. With the new funding, Habyt APAC is well-positioned to continue their core investments in markets such as Hong Kong and Singapore. Jonathan Wong, CEO of Habyt Apac, looks forward to addressing the issues faced by international and local residents in the region while also fuelling the firm’s growth.