Barcelona-based Apartool secures a series of €5.5 million round of funding With involvement from firms like Telegraph Hill Capital (THCAP), Finaves (IESE), and Iberis Capital, among others, the deal was organized by the Spanish fund Barlon Capital and the European fund ROCH Ventures. The funding will help the scaleup grow, whose revenue per year has doubled since 2019 and is expected to reach €15 million in 2023.
Marc Vilar, CEO and co-founder of Apartool, said: “The essence of Apartool is to revolutionise the way corporate travel is managed, bringing the world of corporate housing closer to the agility of the booking process comparable to the corporate hotel; that is why this financial injection will allow us to expand our network of flats worldwide and become a leader in Europe and the Middle East by 2025.”
The money raised in the financing round will be put to use for technological advancement, product positioning in the housing sector, and the company’s international expansion, boosting its entry into Italy, Germany, and the United Kingdom after consolidating its standing in the Spanish, Portuguese, and French markets and the recent opening in Dubai.
The corporate travel industry is undergoing a change because to the corporate housing market. Offering a distinctive experience to employees who must travel for longer than two weeks by real estate them in flats with all the services and amenities is vital for the wellbeing and performance of the teams in a global business environment and at a time when companies are increasingly committed to nurturing and retaining talent.
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Javier Rubió, co-founder of Barlon Capital and Galdana Ventures, commented: “Apartool has proven to be a profitable and stable business in Southern Europe with a validated model, as well as a solid team and technology, which has the potential to expand internationally.”
Bobby Demri, Founder and Managing Partner of ROCH Ventures, added: “We are excited to partner with Apartool, which is at the forefront of transforming global corporate mobility through digital innovation. Their cutting-edge software streamlines collaborations and processes, and their proactive partnerships with industry leaders underscore their dedication to pioneering change in the relocation industry. With a strong track record in South West Europe and rapid expansion into markets such as Germany, the Middle East and the UK, Apartool has a clear global vision and the capabilities to achieve it.”
The Apartool Homes will constantly provide the same booking process, through the same special technology, with identical amenities, and the same payment and cancellation policies, regardless of the destination or the continent they travel to.
They aim to set new benchmarks in temporary accommodation, comfort, and convenience for corporate agencies, relocated personnel, and business travelers. That’s all there is to it.