Badi, the room rental app that calls itself as a “Tinder for house sharing”, has announced its end-of-year metrics. The Barcelona-based startup expanded to London, Paris, and Rome; raised $10 million; and grew from 25 to 65 staff members.
This growth is in line with the objectives announced by founder and CEO Carlos Pierre (LinkedIn profile) in February 2018, when Badi raised $10 million in a Series A round, led by American venture capital firm Spark Capital.
At the time, Pierre told TechCrunch its goal was to grow the company from 36 to 60 employees by the end of 2018. It also planned to expand to London, Paris, Berlin, Amsterdam, and Dublin.
The company now also operates in Alicante, Barcelona, Bilbao, Granada, Madrid, Malaga, Salamanca, Seville, and Valencia in Spain; and Milan, Pisa, Rome, Bologna, and Florence in Italy.
Part of the app’s appeal is that it is free to use, with no fees or commissions. This has no doubt driven user acquisition but it will be interesting to see how Badi goes about earning revenue.
Pierre told U.K. site ThisIsMoney that its aim was to make Badi the default option when looking for a flat. He said the company doesn’t want to “create barriers” by charging fees. Instead, it plans on creating value-added services in the future.
This echoes the business strategy of marketplace app Wallapop, which was also born in Barcelona. The heavily funded stuff app has yet to show a profit, which suggests that there is a risk in offering something for free and expecting people to pay later.