Hambro Perks secondaries vehicle Access Fund II has completed an investment in Habyt, a co-living provider which offers a new version of renting for young professionals in urban centres via fully-furnished and serviced unit, providing a tech-enabled tenant experience and focus on community.
Prior to the Hambro Perks investment, Habyt recently completed a €20m Series B raise with participation from leading European VC investors including HV Capital, P101, Vorwerk Ventures, RTP Global and Picus Capital.
Headquartered in Germany and with further operations in Italy, Spain, Portugal and the Netherlands, Habyt has expanded through a combination of organic growth and targeted acquisitions to now offer over 5,000 residential units. Targeting young professionals aged 20-35, Habyt offers an affordable and hassle-free way of accessing modern central living or co-living accommodation via it’s transparent and easy booking platform with a fresh take on the concept of community within large urban fluctuating cities. The ‘all inclusive’ rents offer busy professionals fully furnished living spaces, with touches such as high-speed internet, weekly cleaning and on-site management.
Building on the success of their recent expansion, Habyt plans to expand in the coming years to France, Benelux, Switzerland and the UK, to capitalise on the strong demand for co-living in urban areas, with a total market of around 90m renters aged 20-35 across Europe.
The investment was made via Access Fund II, Hambro Perks’ revolutionary venture secondaries fund which buys minority stakes in private technology companies from founders and other early shareholders ahead of an official funding round or IPO, providing liquidity to shareholders and enabling investors to access high-performing companies which are not otherwise accepting external investment. Access Fund II was launched in 2021, following the success of the debut fund in 2020, and to date, has received investment from several notable private and institutional investors.
Jemma Bruton, Co-Head of Access Fund said: “We have followed the impressive growth of Habyt in recent years, as they perfected their residential offering to meet the requirements of today’s savvy young professionals across European cities. After meeting with Luca and the team, we were convinced by their expansion strategy, and are proud to be investing in the company. This is typical of the investments our Access fund makes, providing our investors with stakes in high-growth, high potential and high quality private companies.”
Luca Bovone, Founder and CEO of Habyt said: “We are happy to welcome Hambro Perks Access Fund as a partner, as they share our ambitions to revolutionise the way in which young professionals rent across Europe. We see the huge future potential of our offering, and plan to keep building Habyt both via organic growth and via more M&As. We are now looking at strategic targets in Europe, specifically in France and Italy, and also in other continents, especially in Asia.”