Blueground, a startup providing flexible rental apartments for often-relocating employees, has raised $20 million in funding. This wil help the business fill the gap between hotels and Airbnb with flexible short-term accommodation solutions lasting between one month and five years.
With a business model like flexible office space providers, Blueground partners with property owners to sign long-term leases for units it then furnishes and rents out to guests, meaning they enjoy a home-from-home experience without the hassle of removals. Tenants can also switch to between Blueground listings during their rental period if they want to explore different locations during their stay, and apartments share connected infrastructure so tenants can arrange maintenance and other services through Blueground’s mobile app.
Blueground has raised $28 million so far, and aims for a portfolio of 50,000 units over the next five years.