NEON advises Habyt on merger with Hmlet

12 April 2022 | NEON has advised Europe’s leading co-living provider Habyt on its merger with Hmlet, the largest co-living company in the Asia-Pacific region.

Berlin-based Habyt, founded in 2017 by Luca Bovone (Forbes 30 under 30), now has over 8,000 units in 10 countries and 20 cities following its recent merger with Hmlet.

After a five-fold increase in growth in 2021, Habyt expects to triple growth in 2022, both organically and through further M&A. The stated goal is to grow to 20,000 residential units by the end of 2022 and 30,000 by the end of 2023, revolutionizing the way people live and work around the world.

Following the merger, Habyt has raised a total of more than 50 million US dollars in capital from leading VC investors including Burda Principal Investments, Sequoia Capital, HV Capital, P101, Picus Capital and Vorwerk Ventures.

Background:

NEON is pleased to be advising Habyt repeatedly on an acquisition on its rapid international expansion path (most recently on the acquisition of Quarters and homefully) as well as on financings.