[Funding alert] Helsinki-based Bob W Secures €40 Million in Series B Round Funding

Tuesday 13, 2024 | By Team SR

Helsinki-based Bob W secures €40 million in series B round funding. Growth capital investors and well-known European entrepreneurs participated in this round, which was headed by Evli Growth Partners.

Helsinki-based Bob W secures €40 million in series B round funding. Growth capital investors and well-known European entrepreneurs participated in this round, which was headed by Evli Growth Partners.

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With the addition of Taavet+Sten, the investment firm founded by Wise's founder Taavet Hinrikus and Sten Tamkivi, Flashpoint, and Mikko Kodisoja, co-founder of Supercell, in addition to current investors, Bob W has begun a new phase of growth in pursuit of its goal of providing each visitor with a five-star, locally-sourced hospitality experience at scale.

Since its 2019 launch, Bob W has quickly become the industry leader in tech-enabled hospitality. The company unveiled 20 new buildings in 11 European locations in 2023 as part of its major expansion.

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Bob W offers actual tech-enabled hospitality in a whole new category, making it a more intelligent and environmentally friendly option than hotels and short-term rentals. Currently, the company manages full-service, design-led aparthotels with a focus on sustainability in 17 cities and 10 countries throughout Europe.

The distinctive local design and technology integrated into every Bob W apartment offers visitors the best of both worlds: the reliability and standard of a lifestyle hotel combined with the genuine local character and conveniences of a real house.

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Niko Karstikko, Co-founder and CEO, said: “There is a surging demand for locally rooted, seamless travel experiences that technology enables. Yet, the short-term rental sector has had a shortage of standards and professional operators who can offer local authenticity, hotel-grade quality, and tech to elevate the experience. At Bob W, we are leading this category. Our growth and market-leading customer satisfaction prove that we are heading in the right direction. With support from our investors, we’re eager and well-prepared to enter into a new phase of our company’s growth and expand the Bob W travel experience across Europe.”

In order to ensure that visitors always feel taken care of, Bob W's patented technology and apps offer a flawless digital front desk experience that is supported by strong digital customer service and other failsafes. Based on real-time availability, super-early check-ins and late check-outs can be promptly and automatically guaranteed.

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The Bob W experience is distinguished by its dedication to sustainable design and local materials. The company sources décor from nearby properties by collaborating with local manufacturers, artists, and brands.

Mikael Hed, the force behind the Finnish game company Rovio’s growth story and a Growth Partner at Evli Growth Partners, added: “The hospitality industry needs bold disruptors like Bob W. The team is a pioneer in the new hybrid hospitality category, offering authentic, seamless travel experiences enabled by cutting-edge technology. Bob W’s growth demonstrates the team’s unique understanding of customer needs. We are excited to support the team in their next growth phase.”

About Bob W

An ethical tech business providing hospitality services. Bob is constructing a more elegant substitute for motels and short-term rentals. Their incredibly stylish short-term rentals are a more sensible and environmentally friendly option than hotels and sporadic rentals.

Read also - UK-based Navro Secures USD14Million in Funding

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