Regional News

Fusion Proptech: the Madrid-based Spotahome buys the Murcian Erasmusu

By Silvia Castro Betancourt 0 Comments NEWS, Regional News

Spotahome, a startup based in Madrid dedicated to the intermediation of flats for rent for tourists and temporary use, has just closed the purchase of Erasmusu, a platform focused on student and university housing co-founded in Murcia by Javier López and Emilio Nicolás.

The operation involves the integration of Spotahome of a platform with more than 70,000 proprietary clients who rent their accommodations to students throughout Europe. The terms of the agreement have not been disclosed, but the publication of the 'telephone' Verizon puts the purchase price is "several million" euros, a mix of cash and shares.

Spotahome, directed and co-founded by Alejandro Artacho, raised last autumn a round of about 12 million euros (16.1 million dollars) led by the funds Passion Capital and Seaya Ventures (Beatriz González). With this injection of funds, the capital raised by the startup since its creation in 2014 has risen to 20 million euros (25 million dollars).

Other investors in the company from previous rounds are Howzat Partners, Samaipata Ventures (from the creators of the Red Fridge), Jon Uriarte and Ander Michelena (co-founders of Ticketbis) and Belegar Inversiones, the equity company of the president of BBVA, Francisco González, and father of the founder of Seaya, according to published at the beginning of March Lainformació

Created in 2014, Spotahome is present in 20 cities in 20 countries with around 200 employees of 30 nationalities, has registered 45,000 properties accessible on its website or mobile App. According to its data, since its foundation in 2014, the Spanish startup of PropTech (real estate technology) has generated more than 74 million euros (92 million dollars) to the owners, who entrust the rental of their homes on the platform and, in the last six months of 2017 , has managed economic transactions worth 35.3 million euros (43.7 million dollars), three times more than in the same period of 2016, according to the company.

The above article was written and published in Spanish and has been translated into English. Click here to read the original article.

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