Berlin, July 11, 2019 - Everyone should be able to live and work wherever they want - this is the vision of the company Wunderflats, Germany’s leading marketplace for temporary furnished housing, or “Housing as a Service” as they call it. The company has now collected a Series B investment of 8 million euros. The lead investor is PropTech1 Ventures, Germany’s first venture capital fund focusing on European PropTech startups. Existing shareholders such as IBB Beteiligungsgesellschaft, Creathor Ventures and Axel Springer Digital Ventures have also increased their investments.
Expectations concerning mobility, flexible work and, consequently, housing are subject to fundamental changes. Especially geographically flexible employees and their employers are looking for ever simpler ways and more intuitive user interfaces to temporarily rent fully furnished apartments.
Through Wunderflats, tenants can book a fully furnished apartment to suit their needs for a rental period of one month or more, germany-wide. Roughly 5,000 companies such as Google, Microsoft, Axel Springer, Zalando and N26 already book furnished apartments for their employees on Wunderflats.
The Berlin-based PropTech company not only brings together supply and demand for furnished housing on its website, but it also simplifies and professionalises the rental process - from the online presentation and marketing of the apartment to the automatic creation of legally compliant rental contracts, to the complete management of tenant interaction and innovative development of services for property owners.
Wunderflats’ portfolio of apartments consists of 20% commercially-owned serviced apartment houses and 80% privately-owned single apartments. Wunderflats' fixed-termrental contracts for temporary stays in furnished apartments help maximise real estate occupancy and thus maximise the use of residential space. At the same time, Wunderflats gives back housing space that was previously misused for holiday rentals to cities such as Berlin. This temporary housing solution is mainly used by professionals moving to a new city or employees who are dispatched to other cities for project work. Residents who need a temporary home due to extraordinary living circumstances, such as water damage in their own home, also regularly make use of local offers on Wunderflats.
Nikolas Samios, Managing Partner of PropTech1 Ventures, comments: "The flexibilisation of rental markets is currently one of the mega-trends in the real estate industry. What WeWork and Co. have created for office use, Wunderflats and its customers are achieving for the subject of "Housing as a Service": superior utilisation concepts that bring added value to both tenants and landlords. Particularly relevant for our investment decision was Wunderflats' B2B service, which allows property owners to outsource the entire medium-term furnished letting process. Especially in times of increasing regulatory uncertainty, it is essential to work with an expert."