Headline : Furnished rental startup Blueground defies proptech woes with $560M in revenue, a new $45M raise

Read more from the original article on here at techcrunch.com.

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Alex Chatzieleftheriou founded Blueground in 2013 after being frustrated with the dearth of short-term furnished apartments in Europe. He had been traveling as a consultant for McKinsey, living almost exclusively in hotel rooms for months.

“One time the company had to pay up to €15,000 for a hotel room in Amsterdam. And there wasn’t enough space nor a kitchen to cook,” he said. “I tried renting apartments for a month or more. But it was difficult, and landlords weren’t open to buying furniture. So I had created a business that would solve my problem.” 

Some years later, at the height of the pandemic, business was booming for his startup’s category — short-term, furnished apartment rental companies — as people roamed the world while working from home.

Now that many employers have called workers back to offices, the demand for temporary housing has cratered.  

Read more from the original article on here at techcrunch.com.

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