Spain: Corporate accommodation platform Apartool has closed a Series A funding round of €5.5 million led by Roch Ventures and Barlon Capital.
Apartool is a provider of temporary accommodation offering monthly rental apartments for stays longer than two weeks. It has digitised the search and booking process for corporate housing with more than 120,000 available flats across its platform.
The company already has presence in Spain, Portugal and France and has recently entered the Italian market. Following an office opening in Dubai, Apartool has plans to brings its platform to the UK and will use the €5.5 million funding to expand geographically and invest in its technology development.
It marks the second investment for Roch Ventures – a fund set up last year to target European startups. Footballer Lionel Messi was also involved via early stage investment fund Barlon Capital. Finaves, Telegraph Hill Capital and Iberis Capital also took part. In the funding round.
Bobby Demri, founder and managing partner at Roch Ventures, said: “We’re excited to partner with renowned investors to back Apartool, at the forefront of transforming corporate global mobility through digital innovation. With a strong track record in Southwest Europe and rapid expansion into markets like Germany, the Middle East and the UK, Apartool has a clear global vision and the capabilities to match.”
Marc Vilar, CEO and co-founder of Apartool, said: “The essence of Apartool is to revolutionise the way corporate travel is managed, bringing the world of corporate housing closer to the agility of the booking process comparable to the corporate hotel; that is why this financial injection will allow us to expand our network of flats worldwide and become a leader in Europe and the Middle East by 2025.”
Aleix de Castellar, co-founder and chief sales officer of Apartool, added: “The serviced apartments sector is growing a lot, people are requesting it but the main problem is that it is still working in a real-estate mode, so we want to bring the hotel technology to serviced apartments.”
