We've spotted three significant funding and investment movements this week, from an $80 million round in South Asia and two majority acquisitions in the UK and Europe respectively. We'll start with the seven-figure cheque...
The India-based international student accommodation marketplace University Living has acquired a 51% stake in the UK-based student living specialist StudentTenant.
The majority stake means each StudentTenant's UK 10,000 beds will now be added to University Living's marketplace, which covers popular university cities across Europe, North America, Japan, Singapore and Australia.
Saurabh Arora, founder and CEO at University Living, said:
"We are enthusiastic about the potential of this partnership with StudentTenant.
"By combining their local market insights with our global expertise, we aim to set new standards in student housing together in the U.K."
Adam Ormesher, managing director at StudentTenants, has described the investment as an 'acquihire'. He said:
"We are thrilled to embark on this next chapter of StudentTenant’s journey with University Living.
"Together, we will build the largest and most dynamic student housing platform in the UK, driven by an aggressive vision and unwavering dedication to transforming the student housing ecosystem."
University Living and StudentTenant will target a significant market share in Houses of Multiple Occupancy (HMOs) in the UK, rising to 30% by 2030.
Polish short-term rentals operator Renters.pl has acquired a majority stake in Flat Manager. The investment details remain undisclosed, though Polish private equity firm Enterprise Investors was involved in the deal.
The acquisition marks the first international investment by the Polish business, which enters the Bulgarian market as a result.
Flat Manager will be able to expand its property portfolio in Bulgaria, while both companies will share solutions and technologies to improve their respective property management offerings.
Kamil Krzyżanowski, CEO of Renters.pl, said:
"With this transaction, we not only increase our portfolio, but also receive valuable know-how, experience from the Bulgarian market and fantastic partners. Our approach is based on synergies, we strive to use the good practices of both organisations without imposing our methods and operational processes.
"We believe that by combining the skills and unique experience of both companies, we will be able to create and impose future trends in our industry in the Central and Eastern Europe region."
Jakub Kuberski, partner at Enterprise Investors, said:
"This is just the beginning of Renters’ international expansion. We are already negotiating the acquisition of more companies in the market in Central and Eastern Europe.
"We plan to join forces with local operators on the way to building the largest platform in the short-term rental management sector in our part of Europe."
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