Spotahome acquires Erasmusu, an online village for general students

Spotahome, a Madrid-based startup that lets we perspective and book midst to long-term accommodation online, has done a initial merger after lifting €13.6 million in Series A appropriation late final year.

The ‘proptech’ association has acquired general tyro village Erasmusu, a pierce that will see Spotahome supplement adult to 70,000+ some-more properties to a let register and benefit entrance to what co-founder and CEO Alejandro Artacho tells me is “the largest network of Erasmus students in Europe”.

Terms of a understanding sojourn undisclosed, yet we know a squeeze cost is “several million” Euros (update: one source pegs it during €2 million, while another with believe of a understanding says it was adult to €6 million) and was a reduction of money and stock. Notably, Erasmusu, that was started by a founders as a side plan 8 years ago before apropos a personality in a space, hadn’t lifted VC subsidy and has been mostly bootstrapped. In that sense, it remained developed for a picking.

Erasmusu now claims 2 million visits per month (of that I’m told 80 percent is organic), is flourishing 2.5x year over year, and has half a million active students who are looking for homes and, crucially, essay calm for a site. It’s this village building aspect, in further to Erasmusu’s gaunt startup achievements, that Artacho says Spotahome can learn from. In many aspects, a dual startups were competitors, too.

Spotahome aims to solve a problem of how to find midst to long-term accommodation online, including negating in-person observation for a tenant. Key to this is a startup’s insistence that all accommodation is vetted in-person by members of a Spotahome team. These “Home checkers” revisit each skill to emanate concomitant audio-visual element and to determine a listing.

And while Erasmusu started out focused on building an online village for Erasmus students, covering several aspects of general tyro life, it fast found that anticipating accommodation was one of a many active topics. This led a Spanish association to supplement personal ads for rentals, before elaborating into a transactional indication in 2015 — pitting it opposite other let marketplaces, including a most younger Spotahome.

Now that a merger has closed, Spotahome has already begun to energy a rentals aspect of Erasmusu, nonetheless a dual sites and teams will sojourn independent. This is saying Spotahome bear a utterly work complete routine of formulating audio-visual element (or what competence be called practical tours) for all of a accommodation listed on Erasmusu. In other words, bringing a Spotahome knowledge of anticipating a place to live to Erasmus students.

In return, Spotahome supercharges not usually a register of properties, though also a countries and cities it is now active in. The newly-formed Spotahome Group — that points to some-more acquisitions in a not-so-distant destiny — now offers some-more than 115,000 flats, houses, bedrooms and tyro residences in 450 cities opposite 65 countries. Artacho says a startup also has a most broader user bottom now with 0.5m active users and 3m visits per month, while a new total entity employs over 235 staff.

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Posted by on Mar 14 2018. Filed under NEWS. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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