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Ukio raises $2.7M in debt funding for flexible living solution

Ukio, a Barcelona-based proptech that offers flexible living solutions, today announced raising $2.7 million (€2.5M) in debt funding from Extension Fund, according to Tech.EU.

The company says the funding will be used, in addition to its previous $9 million fundraise last year, to expand its network of apartments to new markets across Europe.

Founded in 2020 by Stanley and Jeremy Fourteau, Ukio provides a short-term rental (STR) solution that offers fully-furnished, designed apartments for stays lasting a month or longer. The company says the offering is based in a fully digitized customer experience, including search, check-out, 24/7 customer service, booking and keyless check-in.

The proptech also says it uses a fully vertically integrated digital model to identify “prime real estate in traditionally supply constrained markets to renovating and commercializing the properties in under three weeks,” according to Tech.EU.

“I look forward to supporting the company in becoming the category leader in flexible housing. Ukio’s team is highly ambitious, combines a long-term vision with a practical mindset, and is obsessed with the customer experience,” said Novicap founder Federico Travella, who joins the company as an advisor.

By partnering with real estate developers and landlords, in order to personally select apartment designs and furnishings and create an upscale, flexible living solution for guests.

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Ukio says that it currently has 250 apartments in its portfolio across Barcelona, Madrid, Lisbon and Berlin, and that it reached €7 million in annual recurring revenue in the first quarter of 2022 while maintaining a 96% occupancy rate.

In other recent proptech news, Hostfully raised a $4 million seed round led by Disruption Ventures for its professional short-term rental property management platform. 1Sharpe Ventures also announced closing its inaugural $90 million fund aimed at early-stage proptech startups.

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