As lifestyles and approaches to work and home life shift, Barcelona-based startup Ukio has just secured €27 million for its rental platform offering fully furnished and serviced homes. The startup now plans to expand across Europe, becoming a household name for the modern living lifestyle.

Since the pandemic, society has undergone a profound shift in how we approach work, home and lifestyle. Namely, it’s brought a movement of remote and flexi working to become the norm rather than the exception. This, in turn, has fuelled a movement to live flexibly – living in places that suit each individual’s needs, are digitally friendly, and offer a pleasant lifestyle. 

The number of people working and living flexibly has tripled across Europe since the pandemic. People today find that working remotely means they are more productive, more communicative with their team members and less likely to burn out and offering this style of life is now a priority for many tech companies. 

But, whilst flexi working is standard, the provision for on-the-go workers hasn’t kept up – and it’s estimated to represent a $30 billion opportunity in Europe alone. 

Aiming to take hold of this market gap is Barcelona-based Ukio. Founded in 2020, the rental startup has just secured fresh funding to expand. It’s a startup we reckoned you should keep an eye on this year, and certainly hasn’t disappointed. 

The details:

• €27 million Series A round, made up of €17 million in equity and €10 million in debt funding
• The round was led by Felix Capital, with support from Kreos Capital, Heartcore and Breega​​
• Since the start of 2022, the startup has achieved 7X YoY revenue growth and now boasts 96% occupancy 

Homes for modern lifestyles

As the remote and flexi working revolution continues to grow, and indeed becomes a norm of working life, the need to provide homes for these workers, who tend to be young, progressive and on-the-go, has grown extensively. 

Europe’s rental market is extremely competitive and has been for some time, making it even harder to provide housing for this growing cohort of people. In addition, traditionally archaic and long-term contracts just don’t fit what flexi-workers are looking for – not suitable for entrepreneurs, remote workers and multinational professionals who may be in a city for just six months or less.

Founded by Stanley and Jeremy Fourteau, Ukio is aiming to change this. 

Jeremy Fourteau, founder of Ukio, said: “Finding and renting an apartment for a month or more is still incredibly complex and time-intensive for modern consumers who are used to doing everything and anything digitally. Ukio was created to overcome this challenge. We’re building proprietary software tools so it’s easier than ever for people to find the perfect home to stay in, as well as simplify their search and create the essential products and features to provide a high-end service to our guests.” 

The rental startup offers a collection of designed apartments to redefine the housing experience. The vision is to give five people the chance to immerse themselves in new places by having a home wherever they go. Ukio’s apartments are all turnkey and offer the convenience and comforts of home in prime locations across Europe.

In this way, Ukio is able to provide a high-end experience for guests while providing landlords with a guaranteed long-term income stream. All of which is powered by a seamless digital experience from search to stay. 

With Ukio, a growing list of 500+ curated apartments in cities stemming from Barcelona to Madrid, and Lisbon to Berlin are available to book directly via its online platform. The Series A funding will enable this offering to extend to even more European locations over the coming months, including Paris, Dublin, Milan and London. 

Stanley Fourteau, founder of Ukio, said: “We founded Ukio to be the go-to solution for a new generation of flexible workers. The rise in remote work is unshackling people from their desks, enabling them to experience more of the world, and they are using this opportunity to live and work wherever they want. Yet, the residential real estate market has stayed stuck in the past and is in no way conducive to the needs of tomorrow’s generation. We’re building the future at Ukio – a future where people can live freely, supported by technology, and without the typical pain points associated with the housing market.”

Not only do the apartments level up on a design and comfort basis, but they’re also sustainable and eco-friendly. The startup claims that the apartments are powered by renewable energy, and all furnishings are sourced from eco-friendly suppliers. 

As it continues in its mission towards being a global housing brand, Ukio is building a tech stack to centralize and optimize as many functions as possible. This includes building out its internal proprietary software tools as well as further developing key features, such as its automated monthly rental subscription. These tools are designed to optimize Ukio’s platform and allow it to further scale its solution across Europe. 

This latest fundraise will enable the company to further grow its on-the-ground and in-house teams, particularly its tech experts. It will also be used to invest in its platform, develop a B2B service to suit growing international businesses, and expand more widely across Western Europe by the end of 2023. 

Antoine Nussenbaum, Partner and Founder at Felix Capital, said: “Jeremy, Stanley and the Ukio team are attacking a €30B market opportunity in Europe, which for too long has been completely overlooked. They have built an incredible company based on strong business fundamentals in a fast-growing market segment that disrupts the traditional residential model. We see their fully-integrated platform as providing an essential service for modern consumers who want to experience more of the world and have the means and flexibility to do so. We’re thrilled to be backing them and watching them launch in new cities in 2023.”

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• Source: https://www.eu-startups.com/2022/11/barcelona-based-ukio-raises-e27-million-to-lead-a-residential-revolution-across-europe/