Blueground, a PropTech company offering a turnkey housing solution for renters globally, today announced it is leading the investment in Brazilian PropTech startup, Tabas – which just announced its $14 million Series A round. Blueground recently secured $180 million in Series C funding to accelerate growth to meet the increasing demand for flexible rentals. Blueground will lead the financial investment in Tabas, while also sharing its knowledge in the sector and scalability along with its technology to support Tabas’ development. Blueground CEO and Co-founder, Alex Chatzieleftheriou, will join Tabas’ board of directors as a result of the investment.
Tabas is designing the future of living in the Latin American market through a network of fully renovated, tech-enabled apartments available for rent for a month or more. The company rents apartments, renovates them into beautifully-designed, fully furnished living spaces and subrents them to millennials and business professionals. Currently Tabas has 360 apartments available across São Paulo and Rio de Janeiro. Tabas will use this new investment to expand to 1,200 apartments in Brazil by the end of 2022.
“Tabas entered the market during one of toughest economic times, and the team’s strong performance and tenacity is what attracted Blueground to invest in the growth of Tabas” said Alex Chatzieleftheriou, CEO and Co-founder of Blueground. “There is huge market potential in Latin America, and a natural synergy between our two companies; I am looking forward to paving the way for the future of living together.”
“We’re excited to have Blueground as our lead investor in such a pivotal moment in our growth,” said Leonardo Morgatto, CEO and Founder of Tabas. “With this new capital and opportunity to tap into Blueground’s eight years of experience in the sector, we’re able to support our growth and new market launch as well as invest further in our technology and talent to hit our key milestones in the next year.”
This strategic partnership is the first to come as part of Blueground’s accelerated growth strategy. Its interest in Tabas comes as the company had a record-breaking year in 2021 – surpassing $145m in revenue and maintaining an average 94% global occupancy throughout the year – outperforming the sector during another challenging year. Blueground exceeded 5,500 apartments and hosted over 20,000 guests throughout the year while also adding three more cities to its network in the last quarter of 2021. Blueground is projecting $265 million in revenue in 2022 as they start the year active in 18 markets across North America and EMEA with plans to grow to 50 cities and 30,000 apartments across the world by 2025.
Blueground is a global PropTech company that is reinventing the way people live with its curated network of thousands of quality, turnkey homes in sought-after neighborhoods around the globe, accessible for stays of a month or longer. Blueground’s tech-enabled platform provides a fully digitized experience from viewing and booking available apartments within minutes to managing the entire stay through the Blueground Guest App. Now renters can book where they want, when they want, and on the terms they want. Blueground is headquartered in New York City, with a portfolio of thousands of apartments in 18 cities worldwide including in New York, Los Angeles, San Francisco, Boston, Chicago, Washington D.C., Denver, Seattle, Austin, Dubai, Istanbul, Paris, London, Vienna, Zurich, Berlin, Madrid and Athens. Blueground plans to expand to 50 cities by 2025. Find us on Facebook, LinkedIn, Instagram, Twitter or at www.theblueground.com.
Tabas is a Brazilian real estate technology startup providing beautifully-designed fully-furnished apartments for flexible stay. Founded in early 2020, it already has more than 360 apartments in its portfolio, in the cities of São Paulo and Rio de Janeiro, all located in upscale neighborhoods, equipped and decorated with sophistication. With unprecedented flexibility for the Brazilian market regarding rental contracts, the company works with terms starting from 30 days of rent, guaranteeing the property maintenance to the owners and uncomplicated and well assisted reservations to the tenants. Find more on our website,