Holtzbrinck Ventures and Lakestar are investing in Limehome. The Munich-based startup rents apartments to business travelers.
How startup scene reports leads Holtzbrinck Ventures the seed round. In addition to Zurich-based VC Lakestar, founding shareholder Picus Capital is also involved. Limehome leases apartments from property owners and converts them into short- and long-term rental apartments for business travelers. According to the startup, it is active in 14 cities in Germany and Austria. The Munich-based company aims to be represented in 30 cities by the end of the year.
“Thanks to our lean structure, we can acquire different areas than hotel operators”
There's no reception or housekeeping staff on-site. Guests receive access PINs for the electronic door locks on their smartphones. Cleaning and laundry are handled by a service provider. Limehome co-founder Lars Stäbe says to Gründerszene:
“Thanks to our lean structure, we can acquire different space than normal hotel operators, who always need a certain number of rooms to cover their comparatively high costs.”
Limehome is currently only active in cities with high vacancy rates and little competition from the hotel industry.
