Limehome secures €21 million to fund growth

George Sell George Sell Uploaded 21 February 2020

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Germany: Hospitality startup Limehome has secured a further €21 million from existing investors to develop its proptech platform and to continue scaling in Germany and Europe.

Limehome, founded in 2018, offers apartments which "are run like premium four star hotels, aiming to give customers the benefits of both worlds".

Guests can make their initial booking on the company website or through platforms such as Booking.com and Expedia. Since its launch the company has grown from 10 to more than 70 staff, and opened in more than 30 locations.

The latest funding round was participated in by existing investors Lakestar (lead investor), HV Holtzbrinck Ventures, and Picus Capital.

Dr. Josef Vollmayr, co-founder of Limehome, said: “We are very pleased that all existing investors have increased their stake in Limehome, and that we can continue our successful relationship. We see this investment as a strong vote of confidence in our business to date, and the enormous potential of the company. We are also pleased to welcome Global Growth Capital, one of the leading players in the debt capital market, to our team. We are also delighted by the trust placed in us by our guests. Our annual occupancy rate of almost 80 per cent, a steadily increasing number of returning guests, and a Net Promotor Score of over 50 points demonstrates that our product has been excellently accepted by the market."

Lars Stäbe, co-founder of Limehome, added: “We have not even come close to realising the potential of Limehome. We will use the new capital to invest heavily in our technology platform, further improve the customer experience, expand our team and drive our German and European expansion at full speed."

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