Ukio lands €2.5 million in funding and appoints Federico Travella as advisor, while it expands its flexible living solution across Europe
Despite covid-induced headwinds, the proptech continues to pave the way for a new future of living with operations in Barcelona, Madrid, Lisbon and Berlin and forecasts revenue of € 10 Million end of 2022.
Barcelona, May 25th, 2022 - Ukio, the Barcelona-based proptech and European leader of innovative and flexible living solutions, today announces a new capital injection of € 2.5 million from Expansion Fund. With the influx of fresh capital and its rapidly growing portfolio of design-forward, turnkey apartments for monthly stays, the company will continue expanding its growing network of apartments to new markets across Europe. Since its launch in fall 2020, Ukio has built up an impressive portfolio of over 250 apartments in prime locations across Barcelona, Madrid, Lisbon and, most recently, Berlin.
Despite the past years’ challenges, Ukio has achieved exceptional revenue growth, continually outperforming forecasts. After an impressive 14x year- over- year revenue growth in 2021, the company reached the € 7 million ARR mark in Q1 while maintaining a near-perfect occupancy of 96%.
Founded by French-American brothers Stanley and Jeremy Fourteau, the proptech has also appointed Federico Travella as an advisor. Travella, Belgian-Italian technology entrepreneur and Founder of Novicap, will advise the management team on expansion, product development and capital raising, among other matters. Prior to founding Novicap, Travella was a Managing Director at Rocket Internet where he helped build out e-commerce marketplace Lazada with a combined funding of millions of USD and successful exit to Alibaba Group.
Federico Travella comments: “I’m excited to be joining Ukio as an advisor and look forward to supporting the company in becoming the category leader in flexible housing. Ukio’s team is highly ambitious, combines a long-term vision with a practical mindset, and is obsessed with the customer experience. Lastly, the management is mindful of the challenges that come with scaling rapidly and recognizes the importance of a strong company culture.”
Named by EU-Startups as one of the "most promising Spanish start-ups to keep an eye on in 2022”, brothers Stanley (ex-Airbnb) and Jeremy Fourteau (ex-Headspace) founded Ukio to bring the obsolete and stressful process of finding an apartment into the 21st century.
Having successfully replicated their model across four markets, Ukio leans on its operational excellence, unique design and technology innovations as it continues to expand its portfolio and strengthen its presence across Europe. Its mission is to build a global housing brand with a network of apartments across all major capitals in order to empower people to live wherever they want.
Ukio - HOME WHEREVER YOU GO
To learn more about Ukio please visit: www.ukio.com
Ukio’s mission is to empower individuals to find a home wherever they go.
Ukio disrupts the traditional residential real estate market by offering artfully designed, fully-furnished apartments for stays of one month or more, underpinned by a fully digitized customer experience from search to check-out, with 24/7 customer service, streamlined booking and keyless check-in. The company uses a fully vertically integrated digital model from identifying prime real estate in traditionally supply constrained markets to renovating and commercializing the properties in under three weeks. They partner with real estate developers and landlords and handpick apartments, each of which is individually designed and furnished, to create an upscale flexible living solution.
Ukio was founded in 2020 by two brothers, Stanley and Jeremy Fourteau, with deep experience in hospitality and technology, and is backed by top European Venture Capitalists.