Greek founded apartment booking startup Blueground raises $12 million

Blueground Team / Photo: Blueground's Twitter profile

Blueground, the apartment booking startup founded in Athens, and now with headquarters in New York raised $12million in a new funding round led by VentureFriends, Jabbar Internet Group and Endeavor Catalyst, Greek media announced.

Reportedly, for Blueground this is the fourth but also the largest funding round that brings the startup global investment to nearly $20 million. The new funds, as the Greek portal Startupper reported, will be used by Blueground to further expand its operation in the already existing cities but also in new markets. According to company’s data, to date, Blueground has over 1500 high-quality apartments in nine cities, across three continents: Athens, Istanbul, Dubai, New York, Boston, Chicago, Washington, San Francisco and Los Angeles. At the moment Blueground’s vision and goal are to operate in 50 cities with 50,000 properties by 2023.

Alexandros Chatzieleftheriou,
Co-Founder & CEO at Blueground / Photo: Alex’s LinkedIn profile

“The rapid development in technology and the changes it makes in the way we live create more and more opportunities in the sector of the real estate-tech world. Over the past five years, the Blueground team has reimagined the professional leasing sector of the real estate market. With the new funds we have received, we will continue to work on our three main goals: to further expand our turnover; to continually improve our product; and to create an organization that attracts and develops talented professionals both, in Greece and abroad”, says Alex Chatzieleftheriou, Co-Founder and CEO at Blueground.

Founded in April 2013, in Athens, Greece, Blueground is an online property startup on a mission to build a network of conveniently located, fully furnished, beautifully designed apartments in every big city around the globe. The startup provides business executives, who need accommodation for periods of 1-month or longer, with beautifully furnished and serviced apartments in the most sought after locations. Unlike hotels, Blueground offers larger spaces, full privacy, fully equipped kitchen, a home feeling and lower pricing.

To date, according to company’s data, more than 500 owners have trusted their properties to Blueground, enjoying significant benefits. In the meantime, Blueground has hosted hundreds of professionals from around the world, coming from a world has known companies such as Coca-Cola, H&M, Panasonic, Novo Nordisk, LG and IKEA.

Who are the investors?

VentureFriends, Jabbar Internet Group and Endeavor Catalyst are no strangers to Blueground. Actually, the same three VCs lead the Serias A funding in 2017 when invested total $5.8 M in Blueground.

VentureFriends is a team of entrepreneurial investors who love to support startups and help them become impactful companies with a worldwide presence. The VC is founded in Greece in 2016.

Endeavor Catalyst is the innovative co-investment fund of Endeavor, set up to invest exclusively in Endeavor Entrepreneur-led companies and to sustain Endeavor’s long-term operations in a mission-aligned way. Since launching in January 2012, Endeavor Catalyst has raised $35M in philanthropically donated and invested capital, and invested into more than 40 Endeavor companies in 15 countries. The VC is founded in 1997 with headquarters in New York.

Jabbar Internet Group is a leading investor in the MENA region with the biggest exits so far (maktoob.com to Yahoo) and (Souq.com to Amazon). The VC was founded in 2009 in Dubai, UAE.

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