Ukio, a Barcelona-based travel startup that focuses on offering short-term rentals to remote workers, raised $28 million in a Series A funding round. The funding comes from $17.6 million in equity and $10.4 million in debt, led by Felix Capital.
The accommodation industry keeps transforming with the increase of remote workers and digital nomads. While Airbnb and Booking are leaders, there are other alternatives for remote workers looking to rent apartments that suit their needs for short periods of time. This is the demand that Ukio is targeting.
Ukio enables users to book more than 500 apartments in European cities like Barcelona, Madrid, and Berlin. Tenants allow occupants to stay between one and six months.
The startup has grown its revenue seven times this year and has over 120 employees. The recent funding is expected to help the platform to expand to more Europan cities like Paris, Dublin, Milan, and London. Additionally, the startup will continue to develop its proprietary software, including features like automated monthly rental subscriptions.
The company was founded by brothers Jeremy Fourteau and Stanley Fourteau. According to Stanley, the purpose of Ukio is to become the next solution for this new generation of remote workers.