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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.”
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's portfolio boasts over 3,000 apartments across 17 cities in Europe today, with further rapid expansion underway in existing and new markets.
