Ukio Raises $2.7M in Debt Funding for Flexible Living Solution
Ukioa Barcelona-based proptech that offers flexible living solutions, today announced a $2.7 million (€2.5 million) fundraising round from Extension fundaccording to Tech.EU.
The company says the funding will be used, in addition to its previous fundraising of $9 million last year, to expand its apartment network to new markets across Europe.
Founded in 2020 by Stanley and Jeremy Fourteau, Ukio offers a short-term rental (STR) solution that offers fully furnished apartments designed for stays of a month or more. The company says the offer is based on a fully digitized customer experience, including search, payment, 24/7 customer service, booking and keyless check-in.
The proptech also says it uses a fully vertically integrated digital model to identify “prime real estate in traditionally supply-constrained markets to renovate and market properties in less than three weeks”, according to Tech.EU.
“I look forward to helping the company become the category leader in flexible housing. The Ukio team is highly ambitious, combines a long-term vision with a hands-on mindset and is obsessed with customer experience,” said Novicap founder Federico Travella, who joins the company as than advise.
By partnering with property developers and landlords, to personally select apartment designs and furnishings and create a high-end, flexible living solution for clients.
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Ukio says it currently has 250 apartments in its portfolio in Barcelona, Madrid, Lisbon and Berlin, and reached €7 million in annual recurring revenue in the first quarter of 2022 while maintaining an occupancy rate of 96. %.
In other recent proptech news, with hospitality raised a $4 million funding round led by Disruption companies for its professional short-term rental management platform. 1Sharpe Ventures also announced the closing of its inaugural $90 million fund for early-stage proptech startups.