Helsinki, February 13th, 2024 – In a stride towards revolutionizing the European hospitality sector, Finnish tech-enabled hospitality operator Bob W announced today its Series B funding of EUR 40 million. This round, led by Evli Growth Partners and joined by growth capital investors and prominent European entrepreneurs, including Taavet+Sten, the investment firm of Wise’s founder Taavet Hinrikus and Sten Tamkivi, Flashpoint, and Supercell’s co-founder Mikko Kodisoja along with existing investors, marks a new era of growth for Bob W in its mission to give every guest a local, five-star hospitality experience at scale.

Introducing an entirely new category of true tech-enabled hospitality, Bob W provides a smarter and more sustainable alternative to hotels and short-term rentals. The company operates design-led, sustainability-focused, full-service aparthotels in 10 countries and 17 cities across Europe today. Each Bob W apartment incorporates its own bespoke local design and technology that give guests the Best of Both Worlds: the consistency and quality of a lifestyle hotel, coupled with the local authenticity and amenities of an actual home.

Niko Karstikko, Co-founder and CEO, emphasizes, “There is a surging demand for locally rooted, seamless travel experiences that technology enables. Yet, the short-term rental sector has had a shortage of standards and professional operators who can offer local authenticity, hotel-grade quality, and tech to elevate the experience. At Bob W, we are leading this category. Our growth and market-leading customer satisfaction prove that we are heading in the right direction. With support from our investors, we're eager and well-prepared to enter into a new phase of our company's growth and expand the Bob W travel experience across Europe.”

Bob W’s proprietary tech and apps provide a seamless digital front desk experience that is backed by robust digital customer service and other fail safes, so guests always feel looked after. Super-early check-ins or late check-outs can be instantly and automatically guaranteed based on live availability. The mainly chat-based perfect host ‘Bob W’ has been designed to make guests feel like they’re receiving the best customer service with a human touch, despite minimal staff on site. On top of a smooth online experience, Bob W’s ‘marketplace’ connects guests to local breakfast spots, gyms, facilities, and a host of digital products to ensure a truly local experience.

Leading the transition to sustainable hospitality

A hallmark of the Bob W experience is its commitment to local design and sustainability. The company partners with local brands, artists, and manufacturers, sourcing décor from close proximity to each property. This practice aligns the guest experience with the local community and further cements Bob W's role as a leader in sustainability. As a pioneer in the hospitality industry, Bob W is committed to transparency and honesty, actively advocating for these values while working towards climate net-neutrality. The company also offsets emissions of each stay.

Karstikko adds, “Commitment to sustainability is at the core of our mission. We consider measuring and reducing our carbon footprint is a fundamental aspect of our business, and the principles penetrate our procurement practices, operations, and how we work with property owners. We acknowledge that we aren't perfect, as no one is, but we believe in transparency with our guests and peers. By openly sharing our data, we help our guests make more informed decisions, particularly with our emissions per guest night (in kg CO2-eq) metric. We are pushing the industry to follow suit. Consumers deserve the facts laid bare.”

‍Top-tier investors and entrepreneurs backing exceptional growth

Launched in 2019, Bob W has rapidly grown into a market leader in tech-enabled hospitality. In 2023, the company expanded significantly and opened 20 new properties across 11 European cities.

The recent Series B funding round was led by Evli Growth Partners, with participation from Taavet+Sten, and notable European entrepreneurs, including Supercell’s Mikko Kodisoja, as well as existing investors.

‍Mikael Hed, the force behind the Finnish game company Rovio’s growth story and a Growth Partner at Evli Growth Partners, says, "The hospitality industry needs bold disruptors like Bob W. The team is a pioneer in the new hybrid hospitality category, offering authentic, seamless travel experiences enabled by cutting-edge technology. Bob W's growth demonstrates the team's unique understanding of customer needs. We are excited to support the team in their next growth phase.”

“Despite the challenging times in the capital markets, this investment is proof that top-performing companies continue to attract funding. We are thrilled to have these top-tier investors backing us, many of whom are successful entrepreneurs themselves and crucially, our happy customers,” Karstikko says and continues, "We are excited to scale up and solidify our expansion across Europe. This funding enables us to further develop our technology, recruit top talent, and reinforce Bob W as Europe's most loved hospitality brand.”

‍About Bob W

Launched in 2019, Bob W is a tech-powered hospitality operator offering a smarter alternative to mainstream hotels and traditional short-term rentals. Sustainably operated, design-led full-service aparthotels combine the consistent quality and aesthetics of a lifestyle hotel with the personal touch and amenities of a short-term rental.

Backed by Europe's leading venture capitalists, family offices, and entrepreneurs, including Evli Growth Partners, ByFounders, Flashpoint, IDC Ventures, Elevator Ventures, Verve Ventures, NREP, Tesi, Taavet+Sten (investment firm of Wise’s founder Taavet Hinrikus and Sten Tamkivi), Wolt co-founder Miki Kuusi, and Supercell co-founders Ilkka Paananen and Mikko Kodisoja, Bob W is building the technology to give every guest an authentic 5-star hospitality experience, at scale, while leading the world’s transition to sustainable hospitality. The company has secured over €70 million in funding to date.

The company operates 36 aparthotels across 17 cities in Europe today, with further rapid expansion underway in existing and new markets. The company's total portfolio boasts over 3,000 apartments.

‍Check out this 60-second intro video or visit our website for Bob W press pack, images, assets, and more.

See Bob W’s Sustainability Report
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‍About Evli Growth Partners‍

Evli Growth Partners (EGP), established in Helsinki in 2018 by Evli Plc and entrepreneur Riku Asikainen, is a venture capital firm that specializes in partnering with the most beautiful European growth-phase technology companies. With a funding program of over €300 million, EGP focuses on Series B+ investments, committed to integrating ESG principles into the development of transformative businesses. Our mission is to support growth that is not only economically successful but also contributes positively to society and the environment.

‍The EGP team is steered by five Growth Partners, an ensemble of skilled entrepreneur investors with a proven track record in founding, managing, and exiting companies with billion-euro valuations. EGP benefits from the support and stability of our parent company, Evli Plc, a renowned wealth manager and investment bank with €18 billion in assets, specializing in venture capital, private equity, and real estate investments. This affiliation allows EGP to leverage Evli Plc's extensive expertise and resources, ensuring that we deliver on our promise of value for equity and contribute to a better, more sustainable future.
www.egp.fi/

‍Experience the Comfort and Style of Bob W's Apartments Across Europe

Want to checkout Bob W yourself during your travels across Europe? Book your stay directly at bobw.co or to explore tailored accommodation solutions for your business, connect with our dedicated sales representatives at Bob W for Business.

Select Media Coverage

• TechCrunch - Bob W, a European short-stay apartment rental marketplace, raises $43M
• Yahoo - Bob W, a European short-stay apartment rental marketplace, raises $43M
• EU-Startups - Helsinki-based Bob W lands €40 million Series B to spread sustainable alternative to short-term rentals
• Hospitality net - Bob W secures €40 million in Series B funding for continued pan-European expansion
• Tech.EU - Evli Growth Partners Leads €40M Investment in Hospitality Startup Bob W
• Silicon Canals - Finnish tech-enabled hospitality operator Bob W raises €40M from Taavet+Sten, Supercell’s co-founder, others
• Serviced Apartment News - Bob W completes €40m Series B funding round
• Arctic Startup - Finnish Bob W elevates European hospitality with €40 million Series B funding for sustainable tech-enabled aparthotels
• Short Term Rentalz - Bob W completes €40m Series B funding round