Spotahome
Type of site | Private |
|---|---|
| Available in | 6 languages |
| Founded | 2014 |
| Headquarters | Madrid, Community of Madrid, Spain |
| Key people | |
| Industry | Real estate |
| Website | spotahome.com |
Spotahome is a major player in the market for online booking of rental housing that operates across nine countries across Europe and the Middle East.[1] It is backed by venture capital firms including Passion Capital and Howzat Partners.[2][3] The service targets people moving to a new city for a period of one month or more. Spotahome offers virtual tours of personally checked properties so the entire property rental process can be done online.
International Expansion
As of October 2016, Spotahome operates in major cities in Spain, UK, Italy, France, Germany, Belgium, Ireland, Turkey and UAE.[4] By the end of 2014, Spotahome had expanded beyond its home market of Madrid to four other Spanish cities (Barcelona, Valencia, Seville and Granada), as well as Milan and Rome in Italy. In 2015, it continued its expansion in Paris, Brussels, Lyon, London, Berlin and Dublin. In early 2016, it expanded beyond Europe with the opening of the Istanbul and Dubai markets.
Pricing
The cost of renting a property through the portal varies by regional market, but generally ranges between 200 and 550 euros per month for a room in a shared apartment or 500 to 2,500 euros per month for an entire apartment.[5] In central London, some apartments rent for as much as 5000 euros per month.[6] The company has stated that 80% of the demand on its site is for rooms in shared apartments.[7]
Business Model
Spotahome charges a one-time booking fee to both the tenant and the landlord, and Spotahome acts as an intermediary to guarantee funds for the first month's rent. Once the tenant signs the rental contract, all future payments are made directly to the landlord. As of February 2015, it had booked 1.5 million in rental contracts. [8] In April 2016, CEO Alejandro Artacho said the company had made "thousands" of bookings from tenants from 130 different nationalities.[9]
Employment
As of late 2016, the company employs more than 100 people at its Madrid headquarters.[10]
Market and Competition
Europe has become the battleground for the 100% online rental housing market.[11] Spotahome directly competes with major players such as Atomico-backed Uniplaces in Lisbon [12] and Rocket Internet-backed Nestpick in Berlin.
References
- ↑ Novoa, Jaime. "Spotahome: el 'Airbnb español' para estancias de más de un mes de profesionales y estudiantes". Genbeta. Retrieved 4 October 2016.
- ↑ Melan, Katelyn. "Accommodation platform Spotahome raises seed capital from London-based investors". Novobrief. Retrieved 4 October 2016.
- ↑ "Spotahome | crunchbase". www.crunchbase.com. Retrieved 2016-10-04.
- ↑ Muñoz, Ana (2016-05-19). "Alejandro Artacho (Spotahome): "Somos el Amazon del sector..." (in Spanish). Retrieved 2016-10-04.
- ↑ "Economía/Vivienda.- La demanda de alquiler en pisos compartidos aumenta un 300% en septiembre". Retrieved 2016-10-04.
- ↑ Coleman, David (2016-09-29). "This luxurious city centre pad will set you back €5k a month". Retrieved 2016-10-04.
- ↑ "Los caseros ingresan un 30% más alquilando un piso por habitaciones". El Mundo. El Mundo. Retrieved 4 October 2016.
- ↑ "Charlotte Street Capital has led a pre VC funding round into Spotahome". UK Business Angels Association. Retrieved 4 October 2016.
- ↑ Merino, Pedro Pablo. "Entravista con Alejandro Artacho, CEO de Spotahome". E-commerce News. Retrieved 4 October 2016.
- ↑ Muñoz, Ana (2016-05-19). "Alejandro Artacho (Spotahome): "Somos el Amazon del sector..." (in Spanish). Retrieved 2016-10-04.
- ↑ Novoa, Jaime (2016-05-19). ""Uniplaces: más competencia en el sector del alojamiento de estudiantes"" (in Spanish). Retrieved 2016-10-04.
- ↑ Pastor, Ana (2016-05-19). ""Los estudiantes animan el mercado de alquiler con una tasa "bajísima" de impagos"" (in Spanish). Retrieved 2016-10-04.