Singapore based co-living rental platform Hmlet raised a $6.5 million in Series A funding round led by Sequoia.
The funding will be used to scale the business model throughout Asia and expand its services and experiences for its users, the company said in a statement.
Last year, the company received $1.5 million seed funding led by Aurum Investments, a sister company of co-working space Collision 8, and in July this year, Hmlet acquired a Hong Kong-based competitor – we r urban – increasing the number of rooms and member base.
Founded in 2016 by Yoan Kamalski and Zenos Schmickrath, Hmlet is catering to the millennial workforce with its co-living hou. They decided to transform buildings into environments for living, personal development and collaboration.
To cater to millennials, Hmlet provides affordable, community-centric homes in Singapore and now, Hong Kong.
Hmlet offers custom-designed rooms and apartments with monthly rolling contracts, and members can enjoy cleaning and laundry services, social activities, and professional workshops.
Its buildings also have common areas such as lounges and rooftops where Hmlet occupants can interact and engage in social events.
They attribute the high customer satisfaction rates to their proprietary technology that matches flatmates with similar interests and behaviour patterns.
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