Berlin-based Wunderflats, a platform for temporary furnished housing, has received $21 million U.S. in funding as the start-up plans to use the fresh capital to expand to Europe and invest in its product.
The funding round was led by new investor Verdane with participation from existing shareholders that include PropTech1, Creathor, IBB Ventures, and Axel Springer Digital Ventures.
Lead investor Verdane, one of Northern Europe’s most active investors in digital consumer and software businesses, is investing in Wunderflats through a mix of primary and secondary capital. Wunderflats was founded in 2015 and describes itself as a housing company that allows customers to rent homes online.
“We strive to build the most customer-centric housing company in Europe that enables people to find their new home easily and in a fair manner,” said Jan Hase, co-founder and CEO at Wunderflats. “During the course of the COVID-pandemic, the trend of people living and working temporarily in different cities or even countries increased. Due to the emergence of new and more flexible work environments, the demand for temporary housing will increase even more, and so will the need for temporary furnished housing.”
During the pandemic Wunderflats saw demand grow by 58% in 2020, which has impressed lead investor Verdane.
“Housing markets across Europe today face a significant gap in the mid-to-long term rental sector that Wunderflats fills successfully,” said Maroje Guertl, principal at Verdane. “The relevance of this business model will only increase as the ‘work from anywhere’ and extended stays trend continue to grow in popularity.”