Proceeds will be used for more expansion in Europe and improving its tech stack.
Finnish short-term rental brand Bob W, raised €40 million ($45 million) in a series B funding round to expand in Europe and enhance its technology.
Finnish venture capital firm Evli Growth Partnership led the round. Taavet+Sten, the investment arm of online bank Wise’s co-founders, also participated.
This funding marks the largest investment to date for the startup. Bob W was founded in 2018 and had previously secured a total of €22.5 million in funding. The company operates properties under its own brand and often secures them through monthly rental arrangements or management agreements.
Bob W operates short-term rentals across 10 countries and 17 cities in Europe. Bob W’s recent expansions include properties in Finland, Denmark and London.
“Despite the challenging times in the capital markets, this investment is proof that top-performing companies continue to attract funding. We are thrilled to have these top-tier investors backing us, many of whom are successful entrepreneurs themselves and crucially, our happy customers,” Niko Karstikko, co-founder and CEO of Bob W, said in a statement.
Last April, Bob W acquired its German rival, Charly Hospitality, marking its expansion into Germany, the largest domestic travel market in Europe. This acquisition added seven properties in various German cities and Amsterdam, to its portfolio. Although specific details of the deal were not disclosed, Bob W revealed that the acquisition was financed through Bob W’s Series A funding round of €21 million ($23 million).