Bob W, a marketplace for premium short-term apartment rentals, has secured a significant €40 million ($43 million) in a Series B funding round. The company, founded in Finland in 2018, operates as a tech-enabled hospitality operator, offering around 3,000 “aparthotels” for rent in 17 European cities, including Amsterdam, Athens, London, Berlin, Madrid, and Helsinki.
Key Takeaway
Bob W, a European short-stay apartment rental marketplace, has raised €40 million ($43 million) in a Series B round of funding. The company’s unique approach as a tech-enabled hospitality operator and its focus on leveraging technology to enhance the guest experience have contributed to its rapid growth and profitability.
The Rise of Bob W
Bob W distinguishes itself from established players such as Airbnb and Booking.com by positioning as a “full-stack hospitality operator and brand.” This approach involves managing and operating apartments through leasing and management agreements, supported by technology to streamline operations and reduce staff overheads.
Technology-Driven Hospitality
Bob W leverages technology to enhance the guest experience, with dedicated apps for guests, cleaners, and operations. The company also integrates the “internet of things” (IoT) to remotely manage properties and provide personalized services to guests, such as connecting them with local businesses for activities and creating tailored packages based on their preferences.
Regulatory Immunity and Growth
By utilizing commercial over residential properties, Bob W claims to be largely immune to the regulations targeting short-term vacation rentals in residential areas. The company has reported impressive growth metrics, with a significant increase in revenues and achieving profitability, even as it continues to expand into new markets across Europe.
