limehome receives 45 million euros in new funding round

Munich - limehome, the leading technology-based provider and operator of fully digitised design serviced apartments in Europe, has closed a funding round of 45 million euros in new growth capital. AW Rostamani Group and Capital Four are investing in the Munich-based start-up for the first time. Current investors HV Capital, Picus Capital and Lakestar are also renewing their investment in the funding round.

Thanks to its consistently digital business model, the hospitality tech company limehome continued to grow dynamically in both business and leisure segments during the pandemic crisis, tripling turnover every year. Market expansion in additional European countries is imminent. Currently, limehome is already present in over 100 locations in seven countries.

For over a year, occupancy rates across limehome’s portfolio have been around 90% with high profitability across all locations. Even during the pandemic months, limehome was able to achieve a similarly high occupancy rate, exceeding average market levels multiple times.

The Munich-based company intends to use the additional capital primarily for expansion. In addition to further organic growth, part of the capital will also fund acquisitions of existing operators, where limehome has been able to achieve significant performance increases in the past. Furthermore, limehome will further enhance scalability and high service levels through further development of its proprietary technology platform.

Our two new investors appreciate the combination of high growth and a highly profitable existing business. We are delighted with their confidence in our vision and feel confirmed that we are on the right track to develop limehome into a highly profitable technology-based operator of design serviced apartments. Cesar de Sousa Freitas, Managing Director of limehome

The last few years have shown that our fully equipped design serviced apartments with a digital customer journey and consistent quality are very popular in both the leisure and business segments. With the support of our investors, we will continue to develop our concept and bring it to new markets. Dr. Josef Vollmayr, Co-Founder and Managing Director of limehome

We invested in limehome's innovative business model at an early stage. We see this confirmed by the company's exceptional development. We are convinced that limehome will continue to expand its leading position as a technology-based operator in Europe through its clear concept and strong implementation. Fabian Gruner, Principal at HV Capital

Thanks to its proprietary operating platform, limehome automates all the conventional processes of a hotel’s operation from pricing to booking, check-in, cleaning, customer service and invoicing. The digitalised guest journey gives higher efficiency in operation and space utilisation also allowing smaller locations to be operated profitably; locations which are not economically attractive for conventional hotel concepts. Since its founding in 2018, the Munich-based start-up has expanded into more than 100 locations and has more than 3,000 apartments under contract in seven countries.

About HV Capital

HV Capital has been investing in internet and technology companies through various generations of funds since 2000 and is one of the most successful and financially strongest early-stage and growth investors in Europe. HV has already invested in more than 190 companies, including Zalando, Delivery Hero, FlixMobility and Scalable Capital. The total of all HV funds amounts to €1.1 billion. HV supports start-ups with capital between €500,000 and €50 million, making it one of the few venture capitalists in Europe that can finance entrepreneurs across all growth phases.

About Lakestar

Lakestar is one of Europe's leading venture capital firms. Lakestar invests in technology companies led by exceptional founders. Early investments included Skype, Spotify, Facebook and airBnB. Having launched its first fund in 2013, Lakestar currently manages a total of €1 billion across three early stage funds and one growth fund. Lakestar has expanded and grown its portfolio, including investments in Opendoor, Oscar, GYG, Glovo, sennder, Eigen, FiveAI and Revolut and Hometogo. Lakestar has offices in Berlin, Zurich and London. Lakestar helps companies identify and rapidly expand into new markets, with a focus on the US and Europe. The team advises and supports portfolio companies in the areas of business development, recruitment, technology and marketing.

About Picus Capital

Picus Capital is an international, privately funded venture capital firm headquartered in Munich with offices in New York, Beijing, Berlin, London, Bangalore, Stockholm and São Paulo. Picus primarily invests in pre-seed, seed and Series A rounds and focuses on technology companies in the real estate, financial services, HR, renewable energy, logistics & mobility, e-commerce, healthcare sectors, but also specific technologies such as crypto & web3 and deeptech. As an entrepreneurial sparring partner, Picus pursues a long-term investment philosophy and supports founders from the ideation phase to the IPO and beyond. www.picuscap.com

About AW Rostamani Group

AW Rostamani Group (AWR), founded in 1954 in Dubai, UAE, is one of the Middle East’s leading and most reputable conglomerates, with 4,000 employees, a turnover of over $2 billion, and a presence in the UAE, India and the United Kingdom. Its subsidiaries work across a diverse of sectors including automotive, real estate, retail, lighting solutions, travel, and logistics. Arabian Automobiles, an internationally renowned business of AWR, is the exclusive distributor of Nissan, Infiniti, and Renault across Dubai and Northern Emirates. AWR continues to enrich the lives of its customers through their innovative products, services and sustainable solutions in the marketplace.

About Capital Four

Capital Four is an industry-leading credit asset management boutique rooted in Scandinavian culture. Headquartered in Copenhagen, Denmark, with offices in New York, Stockholm and Frankfurt, the team of 120+ professionals manage €15+bn on behalf of a global client base. The firm offers investment solutions within global high yield bonds, senior loans, structured credit, multi-asset credit, and Nordic & Northern European private debt. The company currently manages €2.9+bn across its Nordic & Northern European focused private debt mandates and deployed more than €1.9bn on behalf of its funds Private Debt III – Senior and Private Debt IV – Flexible. For more details, please visit www.capital-four.com.

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Andrè Glasmacher

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