Accommodation booking platform Limehome raises additional €10M
Munich-based hospitality startup Limehome has raised additional €10 million, bringing its Series A funding to a total of €31 million. Investors include Holtzbrinck Ventures, Lakestar, Global Growth Capital and Picus Capital, reports EU-Startups.
Founded in 2018, Limehome is hospitality startup that combines the quality standard of a hotel, the cosiness and comfort of an apartment. It offers nightly stays for a weekend away as well as discounted monthly rates for longer project stays or business trips. To date, Limehome is already represented at more than 45 locations in Germany and Austria, with another 35 properties currently under development.
Via Limehome accommodation booking platform, the company automates all conventional processes of hotel business from pricing, booking, check-in, cleaning, customer service to invoicing. Due to its business model based on contactless and fully digitalized hotel concept, Limehome apartments were in demand even at the height of the Covid-19 pandemic, and since March 2020, the company’s revenue has more than doubled.
“We see that customers are now actively looking for alternatives to the traditional hotel. Innovative and technology-based models like ours benefit from such developments. The crisis therefore also offers numerous opportunities, which we want to use to lead the hotel industry into the future with a strong technology and customer focus,” explains Lars Stäbe, co-founder and managing director of Limehome.
The company will spend the raised capital on the further development of its technology platform, the brand and in the company’s growth. Particularly, Limehome is entering the Spanish market. The first apartments will soon be opened in Granada, Barcelona and Seville.