Apartool, the leading B2B provider of corporate housing solution announces the closing of a Series A financing round of €5.5M. The investment has been led by European VC firm ROCH Ventures and Spanish fund Barlon Capital, with the participation of Finaves (IESE), Telegraph Hill Capital (THCAP), and Iberis Capital, among others.
This investment round supports the growth of the scaleup, which has doubled its turnover year on year since 2019 and expects to reach a €15M turnover in 2023.
ROCH Ventures is an European venture capital firm fully dedicated to Series A rounds of technology startups from Europe and Israel that are leading the next revolution in travel and hospitality. Alongside ROCH Ventures, the investment has been led by Barlon Capital. This early-stage Spanish investment fund led by entrepreneurs Javier Rubió and Didac Lee is specialized in supporting technology companies with innovative and scalable solutions through Series A rounds. It counts among its investors with football player Lionel Messi, who is investing in disruptive startups with global impact through this firm.
THCAP’s Growth Opportunities fund launched in 2022 has also had a relevant participation in the round. THCAP bring their decade-long experience investing in American companies to help fast-growing European startups scale globally.
In the words of Bobby Demri, Founder and Managing Partner at ROCH Ventures: "We're excited to partner with renown investors to back Apartool, at the forefront of transforming corporate global mobility through digital innovation. With a strong track record in Southwest Europe and rapid expansion into markets like Germany, the Middle East, and the UK, Apartool has a clear global vision and the capabilities to match.”
According to Javier Rubió, co-founder of Barlon Capital and Galdana Ventures, "Apartool has proven to be a profitable and stable business in Southern Europe with a validated model, as well as a strong team and technology, which has the potential to expand internationally."
On the other hand, Marc Vilar, CEO and co-founder of Apartool, has highlighted that “the essence of Apartool is to revolutionize the way corporate travel is managed, bringing the world of corporate housing closer to the agility of the reservation process comparable to that of a corporate hotel. Therefore, this financial infusion will allow us to expand our network of apartments and become leaders in Europe and the Middle East by 2025.”
The funds raised will be allocated towards technological development, product positioning in the real estate sector, and the international expansion of the company, driving its entry into Italy, Germany, and the United Kingdom after having consolidated its position in the Spanish, Portuguese and French markets and the recent opening in Dubai.
Apartool, the partner for corporate travel
The world of corporate housing is revolutionizing the corporate travel sector. In a global business environment and at a time when companies are increasingly focused on nurturing and retaining talent, providing a unique experience for employees who need to relocate for more than two weeks, accommodating them in apartments with all the services and amenities, is crucial for the well-being and performance of teams. In this regard, Apartool provides a unique solution as a B2B provider of long-stay corporate housing, enabling large corporations and corporate travel agencies to access an extensive catalog of corporate apartments and seamlessly manage their employees' stays, all from a single platform and with personalized assistance.
Apartool has become a strategic partner for companies in sectors such as finance, consumer goods, and retail. Currently, the scaleup has 50 employees and collaborates with the world's leading Business Travel Agencies. These types of organizations allow Apartool to expand its network of contacts in the key markets where it operates.
Furthermore, the scaleup has signed global agreements with leading relocation agencies, such as Santa Fe Relocation and Eres Relocation; it collaborates with recognized travel agencies such as BCD Travel Spain and Viajes El Corte Inglés; and it counts among its customers with world-class companies such as Air Liquide, Endesa, FGC, Repsol, Siemens and Yazaki.
The corporate housing market is on the rise: 78% of travel managers anticipate that their companies will undertake more business trips in 2023 compared to the previous year, according to the '2023 CHPA Trends & Forecast for the Corporate Housing Industry' study conducted by the CHPA (Corporate Housing Providers Association).
Furthermore, in these business trips, as per the 'Global Serviced Apartments Industry Report (GSAIR) 2022,' the percentage of companies turning to specialized agents for managing reservations has surged from 10% to 47% in a year.
About Apartool
Apartool is a B2B long-stay corporate housing provider for businesses and corporate organizations that need to relocate work teams to other locations. The scaleup, founded in 2015 in Barcelona is led by four partners: Marc Vilar, Aleix de Castellar, Oscar Vayreda, and Albert Cerezo, and has a network of 1 million apartments in 85 countries. Through its platform, Apartool simplifies apartment management and saves time and resources by offering customized and adaptable proposals to the preferences of each client.
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