Nordic hospitality innovator Bob W raises €21 million to expand across Europe
Summary
With the rise of remote and hybrid working and the increasing demand for digital approaches and capabilities, hotels and holiday rentals have been undergoing profound changes. It comes as the Finnish firm has made a number of strategic acquisitions of late – snapping up KOTI Hotel just a couple of weeks ago and acquiring Estonian competitor, Estonishing Stay in May. It has seen impressive growth with year-on-year revenue growing by a reported 800%, reflecting a resilient and innovative business approach that has clearly hit a market gap. Niko Karstikko, co-founder and CEO of Bob W: “Our goal is to use the funds to create a new industry benchmark for digital experience, and to support our explosive growth in new European markets beyond the UK, Spain, Finland and Estonia, where we currently operate. The resilience that we have shown, underpinned by our unique concept, robust tech platform and genuine sustainability credentials, sets us up perfectly for future expansion, whether through organic growth or mergers and acquisitions.