Limehome is developing a technology platform and renting out designer apartments. Existing investors are injecting fresh capital into the hotel startup. The Munich-based company has also raised debt capital from a new investor.
Limehome receives from his previous donors Lakestar, Holtzbrinck Ventures, and Picus Capital contributed €21 million. All existing investors are participating in the current financing round. Global Growth Capital is contributing a loan to the Lakestar-led round. The hospitality startup, founded in 2018, plans to invest the funds in further developing its technology platform. The Munich-based company also plans to expand in German-speaking countries and other European countries.
"We are very pleased that all existing investors have increased their stake in Limehome and that we can continue our exceptionally cooperative and efficient collaboration. We see this as a strong vote of confidence in our current course and the company's enormous potential. We are also delighted to welcome Global Growth Capital, one of the leading players in the debt capital sector, to our round,"
says Limehome co-founder Josef Vollmayr.
"We are equally pleased with the trust our guests have placed in us. An annual occupancy rate of almost 80 percent, a steadily increasing proportion of returning guests, and a Net Promoter Score of over 50 points show us that the product is being extremely well received by the market."
Limehome offers designer apartments with kitchens at an average price of €85 per night. Behind the scenes, the startup operates a technology platform that automates processes such as pricing, booking, check-in, cleaning, customer service, and invoicing.
“Limehome’s potential is not yet nearly exhausted”
Limehome guests check into their apartment online. 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. Co-founder Lars Stäbe says:
"We haven't even come close to realizing Limehome's full potential yet. We will use the new capital to invest heavily in our technology platform, further improve the customer experience, expand our team, and aggressively pursue our German and European expansion."
The Munich-based company currently operates at 30 locations and has signed contracts for a further 35 properties. According to the company, this will make it the hotel concept with the second most locations in the German-speaking region this year.
