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, as well as Dutch investment firm Exor and Endeavor Catalyst, this round has seen a multitude of existing shareholders such as P101, ITALIA500-Azimut, HV Capital, Vorwerk Ventures, Norwest, Kinnevik, Burda Principal Investments, and Inveready participate.

Luca Bovone, CEO of Habyt, commented: “We are breaking barriers and aim to enable easy access to housing, allowing anyone to embrace flexible living anywhere in the world.” Despite the global drop in series C rounds this year, Habyt’s exponential growth has enabled them to raise a substantial series C round from its existing and new investors.

Since their series B round of EUR20 million in 2021, Habyt has gone through a series of mergers. In 2022, the firm merged with Singapore-based co-living platform Hmlet which has now seen all of its units across Singapore and Hong Kong rebranded as Habyt.

Early 2023 saw Habyt merge with Common, the biggest co-living operator in North America. Habyt now manages 30,000 units across more than 50 cities on three continents, which is a remarkable sixfold increase on the 5,000 units in 18 cities from last year. This has been accompanied by a 40% rise in net revenue and group-level profitability expected early in 2024.

Franco Danesi, partner at Korelya Capital and Habyt board member, remarked that he was impressed by Habyt’s expansive global presence which is particularly evident in its US, Europe and Asia presence. Danesi believes in Habyt’s “bold vision” of redefining flexible housing while providing the firm access to attractive geographies such as Asia.

Senja Residences EC is an Executive Condominium located in Choa Chu Kang located. It offers complete amenities such as a swimming pool, gym, barbecue pits, and tennis courts. Residents can also enjoy a jogging track, a clubhouse, and a children’s playground. Senja Residences is the perfect place for residents to relax and unwind. All these amenities are easily accessible with the development being located within close proximity to expressways and amenities such as schools, wet markets, and eateries.

Habyt plans to continue expanding its portfolio by entering new markets as well as developing ESG (environmental, social and governance) initiaives and creating tech-driven solutions. Jonathan Wong, CEO of Habyt Apac sees the current financial win as an optimal opportunity for the firm to invest in its core markets such as Hong Kong and Singapore to address the challenges faced by both local and international residents.