Blueground, a company providing furnished apartments available for stays of 30 days or more for leisure and business travelers, has raised $45 million in Series D funding.
The funding came from Susquehanna Private Equity Investments and other investors including WestCap. On top of its new funding, the company also raised a debt facility from Barclays with participation from Morgan Stanley, HSBC and Deutsche Bank that took the place of its prior facility with Silicon Valley Bank.
Blueground said it will use the funding to continue developing its technology and to accelerate its growth.
“We’re thrilled to welcome new strategic investors who share
Blueground’s vision of enabling flexible living on a global scale,” said
Alex Chatzieleftheriou, CEO and co-founder of Blueground.
“The trust
from leading investors like Susquehanna and reputable banking institutions like
Barclays, and the syndicate banks, is a testament to Blueground’s financial
performance and global leadership.”
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Founded in 2013 in Greece, Blueground’s portfolio now includes 15,000 units in 32 cities around the globe. In the last year, the company has also introduced franchising, with five agreements signed including deals in Japan and Thailand.
Last year, Blueground acquired Nestpick to launch its partner network of third-party, vetted properties. Prior to that it acquired Brazilian property technology startup Tabas and on-demand furnished rental company Travelers Haven.
“Blueground has emerged as the global leader in furnished, flexible apartments for 30+ day stays with its ability to operate profitably in this market and continuously improve financial performance,” said Dean Carlson, head of digital asset investments at Susquehanna.
