Short and medium stay rental provider Be Mate has signed a €100 million deal with investment fund Q Capital to fund expansion.
The firm says the deal will allow it to open between eight and 10 new properties in the major European capitals where Be Mate already operates.
These include Paris, London and Rome and the purchase of these new properties is planned to take place over the next three years.
Q-Capital is a real estate management and development company founded in 2016 that develops the direct investment activity of Qualitas Equity Partners in Spain.
It has been in existence for 15 years and focuses on SME businesses and investment niches that are not well served by traditional financial operators.
Kike Sarasola, president and founder of Room Mate Group, said: “We are delighted with this partnership with Q Capital.
“It is undoubtedly a big step in the growth of Be Mate. Exclusive building management is one of our main objectives in the coming months.”
Be Mate reported turnover of €6 million in 2017. It has sold more than 80,000 room nights to more than 30,000 guests.
The firm offers over 10,000 apartments, 600 on an exclusive basis and operates in 12 destinations, eight of international four in its Spanish homeland.