Barcelona-based Ukio, a flexible rental startup that provides fully furnished and serviced homes across Europe, announced on Wednesday that it has raised €27M in a combination of equity (€17M) and debt (€10M). by Felix Capital. Other investors including Kreos Capital, Heartcore and Breega also participated.
The Spanish company will use the funding to develop its on-the-ground and in-house teams, especially its technical experts.
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UKO will also commit a portion of the capital by the end of 2023 to invest in its platform, develop its B2B service and expand widely across Western Europe, including Paris, Dublin, Milan and London.
Ukio: What You Need to Know
Established in 2020 by Stanley and Jeremy Forteau, UKO offers an exclusive collection of uniquely designed apartments targeting the new generation of flexible workers.
“Finding and renting an apartment for a month or more is still incredibly complicated and time-consuming for modern consumers,” says Jeremy Forteau, founder of Ukio, which offers a digital platform to do everything and anything digitally. are addicted. Ukiyo was created to overcome this challenge. We’re building proprietary software tools so it’s easier for people to find the perfect home to live in, simplify their search, and provide a high-level of service to our guests. It’s easier than ever to create the products and facilities needed by the world.
With this move, UKO offers a high-end experience for guests while offering guaranteed long-term income to landlords.
According to the company, each apartment has been furnished by a handpicked team of local designers who specialize in creating unique, sustainable, premium living spaces. Furthermore, each apartment is powered by renewable energy, and all furnishings are sourced from eco-friendly suppliers.
To date, UKO has a catalog of 500+ curated apartments in cities ranging from Barcelona to Madrid and Lisbon to Berlin. The Spanish company is also building a tech stack to centralize and optimize functions on the platform, including developing internal proprietary software tools and key features such as its automated monthly rental subscriptions.
“We founded Ukio as the go-to solution for a new generation of flexible workers,” says Stanley Forteau, founder of Ukio. The growth in remote working is freeing people from the shackles of their desks, allowing them to explore more of the world. Experience is helping, and they are using this opportunity to live and work wherever they want. Yet, the residential real estate market is stuck in the past and has not adapted to the needs of tomorrow’s generation. That’s why we’re building the future at Ukiyo – where people can live independently, supported by technology, and without the typical pain points associated with the housing market.
Since the start of 2022, UKO claims to have achieved 7x revenue growth and now boasts of 96 per cent occupancy. Currently, the company employs around 120 people across Europe.
Based in London, Felix Capital is a venture capital firm with a strategy to invest in digital lifestyles at home and work, managing over $1.2 billion of venture and growth capital.
Since its launch in 2015, Felix Capital has invested in over 50 companies, including Farfetch, Mirakl, Mejuri, Moonbug, and others.
“Jeremy, Stanley and the UKO team are attacking a €30B market opportunity in Europe that has been completely ignored for far too long,” says Antoine Nussenbaum, partner and founder of Felix Capital. have built an incredible company based on strong business fundamentals in a fast-growing disruptive market segment. We view their fully integrated platform as providing an essential service to modern consumers who spend more of the world experience and have the means and flexibility to do so. We are thrilled to support them and see them launch in new cities in 2023.
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