ECONOMY

Blueground lands investment of $20 mln

blueground-lands-investment-of-20-mln

Property startup Blueground is entering a new phase after completing another round of funding amounting to $20 million on Wednesday.

“With the funding we have secured, we continue our course toward our three main goals, namely the further expansion of turnover, the constant improvement of our products and the creation of an entity that would attract and develop talented professionals,” a company representative tells Kathimerini.

The firm rents select apartments in Greece and abroad, turns them into top-tier accommodation through refurbishment, and sublets them to tenants for periods ranging from one month to several years.

Beside VentureFriends, the Jabbar Internet Group and certain “angel investors,” the financing process included an investment by Kevin Ryan, founder of some of the world’s most successful startups. Blueground welcomed his participation, and is expected to have him join its board.

“His experience, combined with the further investment in technology, will bring us a step closer to our target – i.e. exceeding 50,000 apartments around the world by 2023,” Blueground co-founder and CEO Alexandros Hatzieleftheriou stated.

The startup manages over 1,800 apartments in nine cities globally and employs 300 people, of whom 140 are based in Greece.