Selina raises extra funding to fare crisis

Worldwide: Selina, a hostel-style operator with coworking facilities, has reportedly raised around $60 million in additional funding.

Since the company’s launch in 2015, Selina has raised up to $225 million in investor funding. It has also secured over $300 million from regional partners to purchase real estate.

The coronavirus pandemic has nevertheless caused the company, among many others, financial stress following the closure of properties. 

Selina has since confirmed that it has raised an additional $60 million in funding, according to Skift.

Cofounder and CEO Rafael Museri said: “We have the funds now to get through the crisis and to be strategic enough to get stronger.”

Selina’s president, Yoav Gery, was named as one of 10 industry figures to watch in 2020 by BHN.

The company has 48 properties in Latin America, with plans to debut in Israel this summer. It also operates across Europe in locations like Portugal, Greece, and the UK. 

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