Co-Living operator Hmlet secures AU$55 million funding for APAC expansion

Hmlet, the Singapore headquartered co-living operator, has raised $55 million in a Series B round of funding.

It will allow the company to accelerate expansion across the Asia-Pacific.

The round was led by Burda Principal Investments, with participation from existing investor Sequoia India and new investors Mitsubishi Estate Co, Reinventure Group, and angel investors.

It follows the company closing a Series A round of $9 million Series A in November 2018, and AU$2 million seed round in 2017.

The fresh capital from Series B will allow Hmlet to expand its presence across the company’s existing markets of Singapore, Hong Kong and Sydney, Australia.

Plans for launch in Melbourne, Brisbane and Tokyo, Japan are also in the pipeline.

Since launching in Australia in February 2019, Hmlet has opened four co-living spaces in Sydney, with immediate plans to launch four new properties in Sydney and new locations in Melbourne and Brisbane shortly.

Founded in 2016, Hmlet's goal is to provide affordable and flexible housing solutions for a mobile workforce.

Today, Hmlet manages over 1,500 rooms and is looking to build a network that spans across 10 cities in 5 countries within the next two years.