Spanish PropTech Spotahome Raised 21€ Million In Funding

The rounds have been led by Passion Capital and Seaya Ventures. Other investors who either joined this round or invested through other rounds in 2015 and 2016 are HOWZAT Partners, Samaipata Ventures, Arthur Kosten, Nordic Makers (Klaus Nyengaard, Alexander Aghassipour, Thorvald Stigsen, Hampus Jakobsson), Jon Uriarte and Ander Michelena among others, who all have put their trust in the business and between them previously contributed to the successes of other companies such as Just-Eat, Booking.com, Amazon, Zendesk, Yahoo!, Ticketbis, Trivago and Momondo.

Alejandro Artacho, CEO and co-founder of Spotahome states “It is really inspiring to see all our previous investors from 2015 and 2016 following on in each new round. And for us, it is a great honor to have Seaya Ventures and Passion Capital on-board as our leading investors, and especially Beatriz González and Stefan Glänzer as Spotahome’s Directors.”

As of the end of last month (end-September), Spotahome has generated more than 60.4€ million in total contract value for landlords, homeowners and property managers who have entrusted their rental properties to the company. With the company currently in a growth- stage with its revenue multiplying by four year-on-year, this latest capital raise will allow Spotahome to achieve several goals. Firstly, Spotahome will consolidate its presence in countries where it already operates, both to strengthen and extend its reach in each of those markets. Additionally, the company will invest in the continued development of digital and technical products to digitalize services in the value chain of real estate, which will improve the experience for both tenants and landlords.

Alejandro Artacho, CEO and co-founder of Spotahome, said “This round is a significant boost that will allow us to continue our revolution of real estate. This sector has always had the scourge of being too traditional and not very innovative. At Spotahome, we are working hard to change this. Our mission is to reinvent Real Estate making it transparent, instant and exciting, loved at last.”

The World’s Largest Real Estate Video Library

Spotahome’s business model focuses on the residential rental market, for mid- to long-term stays. Through its simple website, one can rent houses, rooms in shared apartments and student halls that can be viewed online thanks to HD first person video tours that shows details of the house, 360o high-quality photographs and floor plans of each property, trustworthy descriptions and information about the neighborhood. This process is possible due to the work of the “Home checkers”, members of the Spotahome team who visit every property to develop all the audio-visual material and verify the listing. This differentiating attribute is what has made Spotahome the first digital video library in the real estate sector, accumulating high-quality audio-visual material for more than 40,000 properties in Europe and the Middle East.

Founded in 2014 by Alejandro Artacho (CEO), Bryan McEire (CTO), Bruno Bianchi (COO), and Hugo Monteiro (VP of Engineering), users from more than 185 different nationalities have booked more than 3 million nights of rental accommodation via the Spotahome website since then, backing the company’s business model that is firmly committed to removing the need for physical property viewings.

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