Finland’s Bob W raises €40M in a Series B funding

Helsinki-based tech-enabled hospitality operator Bob W has announced the closure of its €40 million Series B funding round. The round was led by Evli Growth Partners and joined by growth capital investors and several European angels to accelerate the startup’s growth.

• Launched in 2019, Bob W offers an alternative to mainstream hotels and traditional short-term rentals. According to the company, its sustainably operated design-led full-service “aparthotels” combine the consistent quality and aesthetics of a lifestyle hotel with the personal touch and amenities of a short-term rental.
• Currently, Bob W operates 36 such aparthotels across 17 cities in Europe. The company’s total portfolio boasts over 3,000 apartments. At the end of 2022, Bob W raised €21 million in Series A round co-led by IDC Ventures, Elevator Ventures, Verve Ventures, and Flashpoint.

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,

Niko Karstikko, co-founder and CEO, commented.

• The Series B round was led by Evli Growth Partners, a Finnish venture capital firm that specializes in partnering with European growth-phase technology companies. With a funding program of over €300 million, EGP focuses on Series B+ investments, committed to integrating ESG principles into the development of transformative businesses.
• Taavet+Sten, as well as several other European entrepreneurs, including Supercell’s Mikko Kodisoja, as well as existing investors, also participated in the round.

Bob W intends to use the fresh funding to continue its pan-European expansion and achieve the mission of giving every guest a local, five-star hospitality experience at scale.