Habyt turns 5, merges with Hmlet and becomes the largest co-living player worldwide
- Habyt, the biggest European co-living company, merges with Hmlet, the biggest Asia Pacific company, to drive forward a revolution in how we live and work.
- Habyt is bringing to life next generation living concepts across the world, with a presence in 10 countries and 20 cities
- Following the merge the total capital raised by the Habyt exceeds USD $50m from investors including Burda Principal Investments, Sequoia Capital India, HV Capital, P101, Picus and Vorwerk Ventures, Aldea, Inveready.
- After quintupling growth in 2021, Habyt expects to triple growth in 2022, both organically and through further M&A activities
Berlin, 12 April 2022 – Habyt, the biggest European housing company, is today celebrating its 5th birthday and joining forces with Hmlet, the biggest Asia Pacific co-living company to create the largest residential player worldwide, catering to the fast-growing flexible living sector.
The combined group will be a truly global player with a presence in 10 countries and 20 cities. Habyt will continue to seek growth opportunities in new markets and living segments to deliver on its mission of driving a revolution in the living industry, enabling people to live effortlessly and flexibly anywhere across the globe.
Luca Bovone, Habyt CEO, said: “I am delighted to welcome the Hmlet family into our group to further consolidate and expand our offering to customers. The need for unbureaucratic, hassle-free and accessible living is greater than ever before, but today’s announcement is just the first step. Together we will work towards our vision of enabling anyone to live anywhere across the globe.”
Giselle Makarachvili, Hmlet CEO, added: “I’m thrilled for Hmlet to be a part of global consolidation in the flexible living sector, combining Europe’s and APAC’s largest players for an exciting journey ahead. As the leading growth platform in APAC, we are continuing to deepen our footprint in our existing markets and aiming to expand into new markets as well. I now look forward to celebrating the upcoming milestones together with Habyt.”
Following the merger, the new group will manage over 8,000 units worldwide and support 15,000 tenants every year. Habyt’s living subscription and app will be rolled out across all markets, allowing members to move effortlessly between locations, access services at the touch of a button and connect with like-minded communities. With Habyt, anyone can easily rent a fully-furnished and serviced unit hassle-free for an unlimited period of time, with all the bills included into a single monthly payment.
The merger announced today builds on the acquisition of leading Italian co-living provider, Roomie, in March 2022, and supports the company’s goal of growing to 20,000 units by the end of 2022 and 30,000 by 2023. Looking forward, Habyt is planning to make new concepts like multi-generational and community-based living a reality, but it is also aiming to create the models of the future to serve even more demographics.
Habyt has recently closed further funding to power its growth from existing investors led by Burda Principal Investments and Sequoia Capital India as well as one new investor Sasscorp, all of whom will be shareholders in the new Habyt group. Vorwerk Ventures, Aldea Ventures and Inveready also participated in the round. This funding will allow the company to continue deepening its footprint within the core markets and to expand presence in new gateway cities in the Asia Pacific region.
“The Hmlet team's relentless focus on profitability and customer satisfaction has helped us ride out the tough challenges posed by Covid, and we are thrilled with the strong performance of the business in the last 12 months. The partnership with Habyt will help us scale our business across new markets and help Hmlet scale our business in APAC. We are excited to continue to be shareholders in the combined entity as they execute on a profitable global growth strategy,” said Abheek Anand, Managing Director at Sequoia Capital India.
Habyt is driving industry consolidation in a market predicted to grow 300% in 2022. With the onset of the global pandemic, the ability for many to choose where they live without being tied to a physical office resulted in a huge opportunity for the industry. A truly global footprint is key to offering customers a reliable, tech-enabled living solution anywhere they want to move, and Habyt is leading the industry. After quintupling growth in 2021, the company expects to triple growth in 2022, both organically and through further M&A activities.
The entire Hmlet team will join the living revolution by becoming part of the new Habyt group, led by Founder and CEO Luca Bovone. Habyt will be led in Asia Pacific by Hmlet CEO, Giselle Makarachvili, who will become Head of APAC together with Joshua Li as Head of expansion, APAC. With 1,200 units in Singapore, Hong Kong and Japan, Habyt will continue to target major hub cities in the region. It expects to reach 2,300 units in Asia Pacific by the end of 2022, consolidating its industry leading position.