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Bob W notches €21m in Series A funding round

Finland: Helsinki-based tech-driven hospitality provider Bob W has raised €21 million in a Series A funding round.

Based in Helsinki and Tallinn, Bob W services consumers as well as companies, including international startups and next-generation enterprises in fields such as tech and creative industries.

The company, which says it has seen year-on-year revenue grow by 800 per cent, will use the funding to expand in to new and existing markets, as well as scaling its autonomous tech platform.

Earlier this year, Bob W acquired Estonia’s largest short stay serviced apartment operator, Estonishing Stay Apartments, in May and Finnish serviced apartment operator KOTI Hotel this month.

Niko Karstikko, co-founder and CEO of Bob W, said: “Our goal is to use the funds to create a new industry benchmark for digital experience, and to support our explosive growth in new European markets beyond the UK, Spain, Finland and Estonia, where we currently operate. We have demonstrated, despite the challenging business and investment climate, that we can deliver a strong performance, which is reflected in our ability to raise capital.

“The resilience that we have shown, underpinned by our unique concept, robust tech platform and genuine sustainability credentials, sets us up perfectly for future expansion, whether through organic growth or mergers and acquisitions. We are resetting the expectation of hospitality for the consumer and now we can expand our reach across Europe with over 20 cities in our expansion pipeline,” he added.

Bob W says its short-stay accommodation caters to “the 21st-century traveller who wants it all: the consistent quality of a hotel and the authentic flair and affordability of a short-stay rental”.

Backed by venture capitalists, family offices and entrepreneurs including ByFounders, IDC Ventures, Elevator ventures, Verve VC, NREP, Tesi, Wolt-cofounder Miki Kuusi and Supercell-cofounder Ilkka Paananen, it currently operates in four markets in Europe.