Already in February, Limehome was able to successfully Financing round with 21 million euros This Series A round will now be increased by a further €10 million. The fresh capital will be used, among other things, to further develop the technology platform and expand internationally. The first Limehome apartments will open in Granada, Barcelona, and Seville.
Ideal time to enter the Spanish market
Ricardo Fernandez, who is responsible for the expansion into Spain as Managing Director Spain, says:
"In Germany and Austria, we already welcome more than 5,000 guests a month. We are now bringing Limehome's successful concept to Spain – a very exciting market for us. Even though Spain, as an international travel market, will certainly feel the effects of the pandemic for longer than Germany, now is an ideal time to enter the market. We have been welcoming our first guests since the beginning of October."
The Munich-based startup is currently represented at more than 45 locations in Germany and Austria, with a further 35 properties currently under development. With its contactless, fully digitalized hotel concept, Limehome has so far weathered the coronavirus crisis well. According to the company, Limehome apartments were well occupied even at the beginning of the pandemic in March and April, and revenue has doubled since then. Co-founder and Managing Director Josef Vollmayr gives a further assessment of the current situation in one of our Corona updates.
“The hotel industry has missed the digitalization boat”
Lars Stäbe, Co-founder and Managing Director of Limehome, can also see opportunities for his startup and the entire industry in the Corona crisis:
"The hotel industry has missed the boat on digitalization. Thanks to our focus on customer needs, concepts like contactless check-in and access, as well as digital invoicing, have been standard for us from day one. We see that customers are now actively looking for alternatives to traditional hotels – this plays into the hands of technology-based models like ours. The crisis therefore also presents numerous opportunities, which we intend to exploit with additional funding to lead the hotel industry into the future with a strong focus on technology and customers."
