Cohabs, the Belgian co-living start-up, pockets 110 million euros; aims to reach 5,000 beds by 2026
Brussels-based Cohabs, a network of shared homes allowing cohabitation, announced on Wednesday that it has raised 110 million euros in a new fundraising round to accelerate its growth.
The investment came from global real estate investor Ivanhoé Cambridge, Belfius Insurance and the real estate arm of the Belgian Sovereign Wealth Fund (SFPIM – Immobilier).
Arnaud Malbos, Head of Investments Europe of Ivanhoé Cambridge, said: “Cohabs offers everything we are looking for in terms of an innovative concept in an alternative asset class, which aligns with a strong and growing trend in the investment sector. housing, and we are confident the business will continue to expand internationally. This transaction is another demonstration of Ivanhoé Cambridge’s ability to successfully conclude complex private equity transactions and to diversify its portfolio with alternative asset classes.
Founders and historic shareholders AG Real Estate and Alphastone remain on board to fuel the company’s growth.
“Beautiful shared houses for nomads”
Founded in 2016 by Youri Dauber, François Samyn, Malik Dauber and Lionel Jadot, Cohabs is a fully integrated coliving platform that owns and operates its real estate assets. The company provides a shared housing experience through premium, fully furnished accommodations.
It offers fully furnished shared/individual living spaces as well as paid amenities such as cleaning services, laundry services, car rental services, yoga classes, networking events, and more. Users can also register online to apply and book a visit. Places are available on a monthly or yearly basis.
The company has 50 employees and 1,550 beds in five cities: Brussels, Paris, New York, Madrid and Luxembourg. The majority of its resources and team are located in Brussels.
Cohabs claims to optimize its member experience through a flexible, technology-centric methodology guided by a community-driven philosophy. The company is committed to reducing its impact on the environment by focusing on a global and sustainable strategy. In order to guarantee that co-living is accessible to all, Cohabs undertakes to preserve 5% of the Belgian portfolio in solidarity rooms with a reduced rent of 50%.
Use of capital
Cohabs hopes to reach 5,000 rooms across 11 locations by the end of 2026. With increased institutional support, the company hopes to begin the next phase of growth.
With this investment, the investors will assist Cohabs in terms of structure, financing and operational expansion with their vast resources and expertise in creating high quality real estate properties all over the world. Cohabs will have a strong capital structure and will be better equipped to establish itself as a key player with a focus on a sustainable co-living experience that always puts its members first.
Youri Dauber, Founder and CEO of Cohabs, says: “From the first meeting with Ivanhoé Cambridge, it was clear that we were doing well. They immediately understood our vision of coliving and shared our fundamental values. They have the experience, the resources and the motivation to take us to the next level. Combining this dynamic with the conviction and support of our historical Belgian investors and our ambition has all the fuel necessary to achieve our objectives. Our mission will remain the same: to be the most qualitative, sustainable and member-centric co-living company in the world.