Badi raises another $30 million

10 Jan 2019

Yesterday, we reported on room rental app Badi’s successful 2018. Today, the company announced it’s raised another $30 million in funding to continue its growth.

The Series B round was led by American venture capital firm Goodwater Capital. This is the first time it has invested in a Spanish start-up. Additional investors were Target Global and existing investors Spark Capital (which led Badi’s $10 million Series A) and Mangrove Capital.

CEO Carlos Pierre

TechCrunch reported that Badi will use the funding to increase the size of its team, up to 100 percent (it currently employs 65), improve its product offering for private and professional landlords, and redesign the app to be more user-friendly.

Badi uses artificial intelligence tools to help people find housemates with shared interests and lifestyles. It operates in Spain, France, the U.K., and Italy.

The app has more than one million active users, and more than 120,000 rooms listed (company data).

Goodwater Capital co-founder and managing partner Chi-Hua Chien (LinkedIn profile) said in a statement: “We are extremely excited to partner with Badi in their mission to solve the looming urban housing crisis — there simply aren’t enough homes in cities and housing has become too expensive. Badi provides a unique end-to-end rental platform… which has enabled them to unlock thousands of new rooms in cities around the world.”

In a post on Medium, founder and CEO Carlos Pierre (LinkedIn profile) thanked the investors for their support and praised Goodwater Capital for being “uncommonly humble”.

 

Share

Cila Warncke

Cila joined AIM Group in 2014 as writer/analyst for Spain. An Anglo-American living in Ibiza, she brings extensive international writing and consulting experience to the role. Educated at University of Pennsylvania (BA) and Glasgow University (MLitt), she has worked for wide range of consumer and B2B publications and companies in Europe and the USA, writing on topics ranging from marketing to travel to music to ultra-marathoning. She uses her writing, research and analytical skills to help clients tell their stories, grow their business, reach new audiences, build loyalty and exploit new media channels. Cila is also an award-winning essayist, creative writer and founder of Creative Writing Ibiza.