Badi, a new rental app that connects roommates through a Tinder-style matching app, has raised an additional £24 million in funding. The Series B round is led by VC firm Goodwater Capital, with support from Target Global and existing backers Spark Capital and Mangrove Capital.
The Barcelona-based startup claims to have more than one million registered users, including 40,000 in London, where it only recently launched its service. It also operates in key cities across Spain, France and Italy, and will use the funding to open new offices in London and further develop its services.
Badi’s app streamlines the process of finding roommates to share homes with by enabling them to complete a matchmaking process through the app and then apply for properties to rent based on information about their lifestyles and ideal property.
Badi CEO and founder Carlos Pierre said:
“I believe there is a huge opportunity to make flat renting much more efficient worldwide.
“By 2050, the total population living in cities will increase from 54 per cent to 66 per cent. There will likely be a shortage of homes for people looking to live in cities and as a result, this will lead to an increase in smaller living units or rooms. This is where Badi comes in.”
The new cash brings Badi’s total raised so far to over £35 million.