Spotahome, a Madrid-based proptech startup that lets you discover and book mid to long-term accommodation online, just secured €13.6 million in Series A funding round. This brings the total raised to €20.7 million since Spotahome started in 2014. The long list of investors includes Passion Capital, Seaya Ventures, Howzat Partners, Samaipata Ventures, Nordic Makers, Mexico Ventures, Charlotte Street Capital and Samos Investments.
According to Spotahome co-founder and CEO Alejandro Artacho, the fresh capital will be used for further expansion in the countries Spotahome is already operating in, and for further product development. The proptech startup aims to digitise even more parts of the real estate experience soon.
Spotahome was founded with the goal to solve the problem of how to find mid to long-term accommodation online, without the need for in-person viewing, Spotahome seems to have a good run right now. The young company announced that it has already generated more than €60 million in total contract value for landlords.
One of Spotahome’s drivers for success is probably that all flats are vetted in-person by Spotahome team members. The company’s “home checkers” visit every property to create accompanying audio-visual material and to verify the listing. This quality check is crucial, since people are renting Spotahome flats without ever seeing them in person by themselves.
Spotahome’s current audio-visual library contains more than 40,000 properties in Europe and the Middle East. Headquartered in Madrid, Spotahome already operates in Italy, Spain, France, Belgium, U.K., Ireland, Germany, Austria and UAE. The young company employs a team of more than 200 people.