● Limehome concludes financing round of EUR 21million
● Led by Lakestar, all existing investors invest additional capital; Global
Growth Capital participates with a credit line
● The money will be used to further develop the proprietary technology
platform and to continue the company’s expansion in Germany and
Munich-based hospitality start-up Limehome has secured a EUR 21million investment from a new financing round. All existing investors Lakestar (lead investor), HV Holtzbrinck Ventures, and Picus Capital are topping up their initial investments in the company.
Limehome is leading the digital revolution in the hotel industry, by combining the design aspirations of a premium hotel with the efficiency of a continuallyoperating digital concept. Since its launch around 18 months ago, Limehome has already opened more than 30 locations and secured the opening of 35 more properties. With these additional locations, in 2020, Limehome will be the second largest hotel concept operator in German-speaking countries. The fresh capital will be primarily invested in developing the technology platform and supporting growth in DACH and other European countries.
Through its proprietary technology platform, Limehome automates all conventional processes of a hotel business – from pricing, booking, check in, cleaning, customer service to invoicing. The operational efficiencies gained by the digital platform and the use of space at the locations enables Limehome to offer high-quality, fully equipped designer apartments at the price of a standard hotel room. The business can also operate in smaller locations that are not attractive for traditional hotel concepts.
Limehome guests, business travellers and tourists alike can book centrallylocated designer apartments conveniently via the Limehome website, in addition to all conventional booking platforms such as Booking.com and Expedia. For an average of EUR 85, guests receive the quality of a 4-star hotel and the benefits of a fully equipped apartment.
After booking, guests receive a confirmation with all necessary information, and can check in online directly. Thanks to the fully digital and intuitive guidance on the platform, users are not subjected to waiting times on arrival or departure. The apartments offer considerably more space than a hotel room and are fully equipped with a kitchen, dining and working area. With high-speed internet access and professional desk equipment, Limehome enables its guests to have the home office always at their disposal, even when they are on the road.
Limehome guests thus benefit from the possibility of staying longer, on their own or with the family. Dr. Josef Vollmayr, co-founder of Limehome, says: “We are very pleased that all existing investors have increased their stake in Limehome, and that we can continue our successful relationship. We see this investment as a strong vote of confidence in our business to date, and the enormous potential of the company. We are also pleased to welcome Global Growth Capital, one of the leading players in the debt capital market, to our team. We are also delighted by the trust placed in us by our guests. Our annual occupancy rate of almost 80%, a steadily increasing number of returning guests, and a Net Promotor Score of over 50 points demonstrates that our product has been excellently accepted by the market”.
Lars Stäbe, co-founder of Limehome emphasizes: “We have not even come close to realizing the potential of Limehome. We will use the new capital to invest heavily in our technology platform, further improve the customer experience, expand our team and drive our German and European expansion at full speed”.