Badi, the Spain-based room rental services company has raised $30million from its latest Series B fundings round. Earlier, the company completed a Series A funding round less than a year ago.
The investors in the Series B were- Goodwater Capital (an American consumer tech VC), Target Global and existing Mangrove Capital and VCs Spark Capital. The fresh fundings will be used to consolidate services in Rome, Paris, London, Barcelona and Madrid and also to build a new office in London.
While the fundings will be used towards the company’s team expansion mission, it will alsocreate new services towards the welfare of tenants and land lords. The company is looking to capture the market in the European region (despite Brexit).
The UK is the most expensive city for renters while other cities like Barcelona and Madrid are in full demand with renters and tourists. The company’s growth over the rental market in the last decade in Spain is 130% which represents 23% of the whole real estate business.
Coming to Rome and Paris, these two cities are also major tourist destinations and people mostly take short term rentals there.
Currently, the company has business in the UK, Spain, France and Italy.
Badi’s ML technology helps users to find perfect flatmates and then feeding “compatibility insights” back in to keep improving its recommendations.
According to the company, it has registered about one million users in November 2018. The company’s main motiveis to make living affordable and easier for the people.