Bob W, a Helsinki-based better-than-a-hotel hospitality platform, has raised €40 million in a Series B investment round. The new capital is aimed at fueling further growth at the startup, now amassing in excess of €71 million since mid 2020.
Bob W’s biggest payout thus far has been provided by lead investor Evli Growth Partners alongside Wise’s founders Taavet Hinrikus and Sten Tamkivi investment vehicle Taavet+Sten, Flashpoint, and Supercell’s co-founder Mikko Kodisoja, as well as a host of existing investors.
The Finnish startup offers an accommodation hybrid between hotels and short-stay apartments or hosted homes like Airbnb, which guests can rent nightly, weekly or monthly.
Although born just before the pandemic (talk about timing), the hospitality company weathered the storm, chiefly via its reliance on a well-placed marketing campaign built around a ‘Ridiculously Clean Standard’, a 63-step protocol to clean, sanitise, disinfect and seal every suite.
In so much, at the time of its €21 million Series A round in late 2022, Bob W saw its year-on-year revenue grow by 800%, alongside healthy margins, whilst achieving an average guest rating of 4.8 (out of 5) and a net promoter score of close to 90.
Today, Bob W operates in 10 countries and 17 cities across Europe.
Niko Karstikko, co-founder and CEO at Bob W shared:
“There is a surging demand for locally rooted, seamless travel experiences that technology enables. Yet, the short-term rental sector has had a shortage of standards and professional operators who can offer local authenticity, hotel-grade quality, and tech to elevate the experience. At Bob W, we are leading this category.
“Our growth and market-leading customer satisfaction prove that we are heading in the right direction. With support from our investors, we’re eager and well-prepared to enter into a new phase of our company’s growth and expand the Bob W travel experience across Europe.”
Lead investor Evli Growth Partners’ Mikael Hed added:
“The hospitality industry needs bold disruptors like Bob W. The team is a pioneer in the new hybrid hospitality category, offering authentic, seamless travel experiences enabled by cutting-edge technology. Bob W’s growth demonstrates the team’s unique understanding of customer needs. We are excited to support the team in their next growth phase.”
Lead image via Bob W