Room rental marketplace Badi has agreed a $30m series B funding raise. The raise is being led by Goodwater Capital, a US-based consumer tech VC firm that has also invested in Spotify, Twitter and Facebook. The new round will bring Barcelona-based Badi’s funding up to $45m.
The funding will enable the company to consolidate its services in Barcelona, Madrid, London, Paris and Rome and open new markets in major European cities starting with Berlin. It will also be used to expand the core team up to 100%, open new offices in London and develop new services for landlords and tenants.
Chi-Hua Chien Co-founder of Goodwater Capital says: “We are extremely excited to partner with Badi in their mission to solve the looming urban housing crisis – there simply aren’t enough homes in cities and housing has become too expensive. Badi provides a unique end-to-end rental platform that builds trust and convenience directly into the customer experience, which has enabled them to unlock thousands of new rooms in cities around the world.”
Badi says that it is ‘on a mission to become the world’s largest and most innovative real estate marketplace’ by using artificial intelligence to connect landlords with the most compatible room seekers. Clever perhaps, but this is an increasingly crowded and competitive online marketplace. Badi will firstly need to concentrate on becoming a more widely recognised brand.
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