Bob W, the Finnish tech-enabled hospitality operator, has successfully closed a significant €40 million (approximately $43 million) Series B funding round, marking a pivotal moment in the company’s journey. The funding, led by Evli Growth Partners, attracted participation from growth capital investors and influential European entrepreneurs, including Taavet+Sten, Flashpoint, and Supercell’s co-founder Mikko Kodisoja. Existing investors also joined in, emphasizing their confidence in Bob W’s mission to revolutionize the hospitality industry.
Since its establishment in 2019, Bob W has rapidly ascended to become a market leader in tech-enabled hospitality. In 2023, the company expanded its footprint, unveiling 20 new properties across 11 European cities, showcasing its commitment to providing a local, five-star hospitality experience at scale.
Bob W introduces a groundbreaking category of true tech-enabled hospitality, offering a smarter and more sustainable alternative to conventional hotels and short-term rentals. Operating design-led, sustainability-focused, full-service aparthotels in 10 countries and 17 cities across Europe, each Bob W apartment is uniquely tailored with local design and technology, providing guests with the “Best of Both Worlds” – a harmonious blend of lifestyle hotel consistency and quality with the local authenticity and amenities of an actual home.
Niko Karstikko, Co-founder and CEO of Bob W, expressed excitement about the company’s evolution, stating, “There is a surging demand for locally rooted, seamless travel experiences that technology enables. At Bob W, we are leading this category. Our growth and market-leading customer satisfaction prove that we are heading in the right direction. With support from our investors, we’re eager and well-prepared to enter into a new phase of our company’s growth and expand the Bob W travel experience across Europe.”
Bob W’s proprietary technology and apps redefine the guest experience, providing a seamless digital front desk encounter backed by robust digital customer service and fail-safes to ensure guests feel well taken care of. The company’s unique perfect host, ‘Bob W,’ engages guests in mainly chat-based interactions, offering a personalized touch despite minimal staff on-site. Additionally, Bob W’s ‘marketplace’ connects guests with local businesses and digital products, enhancing the overall travel experience.
Mikael Hed, Growth Partner at Evli Growth Partners, emphasized the importance of disruptors like Bob W in the hospitality industry, stating, “Bob W’s growth demonstrates the team’s unique understanding of customer needs. We are excited to support the team in their next growth phase.”
A distinguishing feature of the Bob W experience is its commitment to local design and sustainability. The company collaborates with local brands, artists, and manufacturers, sourcing decor from nearby locations to align the guest experience with the local community. As a pioneer in the hospitality industry, Bob W actively advocates for transparency, honesty, and climate net-neutrality, offsetting emissions from each stay.
Niko Karstikko concluded, “This funding enables us to further develop our technology, recruit top talent, and reinforce Bob W as Europe’s most loved hospitality brand. Commitment to sustainability is at the core of our mission, and we are pushing the industry to follow suit.”