EU: Coliving and remote work startup Outsite has raised €300 million in funding from three real estate investors to pursue opportunities in Europe.
Outsite was founded in 2015 by Emmanuel Guisset and provides coliving accommodation and spaces for remote workers across the US, Latin America, Africa, Asia and Europe. Currently, the company has 50 live locations and offers an annual membership with exclusive listings available on its website.
Extendam, Keys REIM and Stone Capital have collectively invested €300 million in Outsite to fund its expansion across Europe. Target markets include Spain, France, Portugal and Italy with a focus on boutique hotels with between 20-50 rooms or more.
Keys REIM and Stone Capital have been a shareholder in Outside since 2019, when Outsite launched its first European property.
The funding should allow Outsite to expand to 3,500 rooms in the next five years.
Vincent Ferat, president of Keys REIM, said: “We are committed to supporting Outsite’s European growth and focusing on key European gateway cities and Southern Europe leisure destinations.”
Extendam’s CEO Bertrand Pulles and investment manager Maxime Durand said: “[We] believe that Outsite’s innovative approach to hospitality perfectly aligns with Extendam’s investment strategy. This partnership will enable us to expand our footprint in Europe and offer unique experiences to modern travellers.”
Arthur Moreno, co-founder and CEO of Stone Capital, added: “Stone Capital is excited to join forces with Outsite in this transformative stage of growth. We see immense potential in Outsite’s expansion strategy, and we look forward to continuing to work with them to achieve their ambitious goals in Portugal.”