Yet another Czech start-up can celebrate a great success. Brno-based start-up Flatio, which is doing business in short to medium term leases has received funding from the investment fund Incomming ventures.
Specific sum that Flatio received has not been announced. Nevertheless, this is the second major fund injection in the last twelve months. Early last year, a minority share of Flatio has been bought by the financial group Enern. These investments mean that Flatio will have enough funding for the planned expansion of activities throughout Europe.
New destination Vienna
The last year´s investment has already brought some results as Flatio spread beyond the borders of the Czech Republic. Flats for short and mid-term rentals are currently available not only in Prague but also in Vienna. “We find out from our analysis, backed by Eurostat´s data that people, who are staying in Vienna between 15 and 90 days spent on accommodation around 3,1 billion CZK, which is 1,3 billion more than in Prague. We perceive Vienna as the first step to gain international experiences. It should show us the right direction how to occupy other European capitals in 2017,” said Radim Rezek, the founder and CEO of Flatio. “We will be interested primarily in Berlin after Vienna. According to our analysis, people spend ten times more for medium-term accommodation there than in Vienna,” he added.
It seems that Flatio is not afraid of the future. In fact, they have a very ambitious plans. Within five years they would like to occupy 10% share of the European market with medium-term housing. If everything goes according to their plan, we are talking about 10 billion CZK turnover per year.
“We see a strong partner in Incomming ventures. Together with Enern, they will help us to grow to become the European leader in medium-term housing market,” said Rezek on the importance of the partnership with Incomming ventures and Enern.
We would like to wish all the best for the future to Brno’s promising start-up. We dare to say that we do not hear about them for the last time.