Spanish Proptech Raises €5.5 million in Series A

Barcelona-based Apartool will use the funds to lead the European corporate housing market

Apartool, a leading B2B provider of corporate housing solutions, has announced the closing of a Series A financing round valued at €5.5 million. The deal was led by Spanish fund Barlon Capital and European fund ROCH Ventures, with participation from Telegraph Hill Capital (THCAP), Finaves (IESE) and Iberis Capital, among others. The round will support the growth of the scaleup, which has doubled its turnover year on year since 2019, and expects to reach €15 million in 2023.

Marc Vilar, CEO and co-founder of Apartool, said, “The essence of Apartool is to revolutionise the way corporate travel is managed, bringing the world of corporate housing closer to the agility of the booking process comparable to the corporate hotel; that is why this financial injection will allow us to expand our network of flats worldwide and become a leader in Europe and the Middle East by 2025.”

The funds raised in the financing round will be used for technological development, product positioning in the real estate sector and the company’s international expansion, boosting its entry into Italy, Germany and the United Kingdom after consolidating its position in the Spanish, Portuguese and French markets and the recent opening in Dubai. The operation has also allowed some investors to cash out of Apartool’s capital, obtaining good capital gains. In this sense, it has been the first exit EconomistesBAN, the network of investors of the Col-legi d’Economistes de Catalunya, which was one of the first investors to bet on Apartool in 2019.

The world of corporate housing is revolutionising the corporate travel industry. In a global business environment and at a time when companies are increasingly committed to nurturing and retaining talent, offering a unique experience to employees who have to travel for more than two weeks, by accommodating them in flats with all the services and amenities, is key to the well-being and performance of the teams. Apartool offers a unique solution as a B2B provider of long-stay corporate housing, which allows large corporations and corporate travel agencies to access a wide range of corporate flats and manage the stay of their employees easily and seamlessly, from a single platform and with a personalised service. Founded in 2015, Apartool has become a strategic partner for companies in sectors such as finance, consumer goods and retail. Currently, the scaleup has 50 employees

Barlon Capital is an early-stage investment fund led by entrepreneurs Javier Rubió and Didac Lee that counts among its investors Spanish entrepreneurs and Lionel Messi who invest in disruptive startups with global impact. The fund specialises in backing technology companies with an innovative and scalable solution through Series A funding. Alongside Barlon Capital, the investment was led by ROCH Ventures, a European venture capital fund that is 100% dedicated to Series A funding for technology startups in Europe and Israel that are bringing to life the next revolution in the travel and hospitality industry. The Growth Opportunities fund launched in 2022 by THCAP, which brings its experience with American companies to help scale high-growth European startups, has also had a relevant participation.

Javier Rubió, co-founder of Barlon Capital and Galdana Ventures, commented, “Apartool has proven to be a profitable and stable business in Southern Europe with a validated model, as well as a solid team and technology, which has the potential to expand internationally.” Bobby Demri, Founder and Managing Partner of ROCH Ventures, added, “We are excited to partner with Apartool, which is at the forefront of transforming global corporate mobility through digital innovation. Their cutting-edge software streamlines collaborations and processes, and their proactive partnerships with industry leaders underscore their dedication to pioneering change in the relocation industry. With a strong track record in South West Europe and rapid expansion into markets such as Germany, the Middle East and the UK, Apartool has a clear global vision and the capabilities to achieve it.”