Limehome, a Munich, Germany-based hospitality startup, secured €21m in funding.
The round was led by existing investor Lakestar, with participation from HV Holtzbrinck Ventures, and Picus Capital. Global Growth Capital also participated with a credit line.
The company intends to use the funds to further develop the proprietary technology platform and to continue expansion in Germany and Europe.
Led by Lars Stäbe and Josef Vollmayr, Limehome aims to combine the design of a premium hotel with the efficiency of a continually operating digital concept to offer high-quality, fully equipped designer apartments at the price of a standard hotel room. Guests, business travellers and tourists alike can book centrally located designer apartments conveniently via the website, in addition to all conventional booking platforms such as Booking.com and Expedia. After booking, guests receive a confirmation with all necessary information, and can check in online with a kitchen, dining and working area, high-speed internet access and professional desk equipment.
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 business can also operate in smaller locations that are not attractive for traditional hotel concepts.
Since its launch around 18 months ago, the company has already opened more than 30 locations and secured the opening of 35 more properties.