Badi is looking for funding to expand its portfolio

March 19, 2019
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This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

The floor sharing application has closed an agreement with a company that will offer twenty of its apartments owned through this platform for one year.

Publish a room, select the candidates and rent. This is the modus operandi of Badi, an application that puts owners and potential tenants in touch. Now, the company wants to go a step further and intends to enter the real estate through alliances with investment funds, as EjePrime has learned.

"The conventional rent offers a profitability of 3% while this service would offer between 6% and 8%", assure sources of the company. The company maintains that this formula would make profitable or unoccupied apartments profitable. Badi, on the other hand, would expand its portfolio of assets and offer the funds the management and commercialization of the properties.

This aspect of the company is still under development, but the company is already negotiating with several funds that could be interested. In fact, Badi has closed an agreement with one of them to develop a pilot test with twenty floors that will be rented through the application for a year, although his identity has not transcended.

Currently, the company does not have flats owned, an option that is also not in its short-term plans. Badi offers third-party rooms for an average price of 550 euros, depending on the area, characteristics or services of each floor.

The company wants to promote this last aspect by offering management services for monthly payments or common expenses, digital contracts and reservation of rooms. In this case, the company withholds the money from the first month to the tenant and gives it to the owner when the tenant is already installed.

Among the company's plans is the expansion of Badi to Berlin, in two or three months, with the opening of an office of its own. Currently, the company is present in five of the major European cities such as Barcelona, ​​Madrid, London, Paris and Rome.

The company, created in 2015 by Carlos Pierre, has experienced great growth in recent years. Among its objectives is to consolidate its market in London and double its staff at its headquarters in Barcelona, ​​to reach one hundred or 120 workers. The company started the year with a staff of sixty people and currently has a team of eighty workers.

The company has raised 45 million euros in five rounds of financing, the last of which this January, of 26 million, led by the US fund Goodwater Capital, investor companies such as Spotify, Twitter or Facebook. Badi currently has 1.5 million users registered on its platform and each month receives some 19,000 new rooms and almost two million rental requests.

Between 10% and 15% of users are people over forty. Although, for now, these clients are residual, the company explains that the application is not exclusively for young people or students. The coliving is a business model on the rise, which has the approval of the municipalities and institutions, as it facilitates access to housing, now more committed than ever by the high rental prices.

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

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March 19, 2019

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