Selina, a London-based hospitality and co-working company, announced it has raised $100 million in Series C funding. Including this round, Selina has raised $225 million total. This round of funding was led by Access Industries.
Grupo Wiese and existing investor Colony Latam Partners also participated in this round.
Founded in 2015, Selina has expanded around the world rapidly and it is now available in 46 locations in 13 countries. And there are more than 22,000 beds open or under conversion.
Selina combines private and shared accommodation with co-working facilities, food and beverage offerings, and retail and local experiences. By 2023, Selina is aiming to have 130,000 beds and over 400 properties as it builds a foundation for the growing digital nomad and remote work categories.
Each Selina property has been designed in partnership with local artists, creators, and tastemakers who fix up existing buildings and venues across a wide range of urban cities, jungles, and remote beaches.
“We’ll be leveraging this financing to expand our corporate platform and secure more of the most creative talent in the industry,” said Selina co-founder and CEO Rafael Museri in a statement. “We’ll continue to invest in our technology innovation team in Tel Aviv as we explore digitally-driven ways to disrupt the hospitality industry, enhance the complete booking and user experience for travelers, and continue rapid expansion into new markets across the globe.”
Museri also pointed out that millennials and Gen Z are redefining how they want to live, work, and explore the world. And the ambitious nature of these generations is proving that there is a demand for Selina’s experimental hospitality model today and for years to come.
“We believe Selina’s focus on building a global hospitality platform for digital nomads will redefine the way millennials live, work, play, learn and give back,” added Lincoln Benet of Access Industries.
This year, Selina is going to open an additional 35 properties in the U.S., U.K., Germany, Portugal, Greece, Israel, Argentina, Brazil, and Mexico along with expanding into new European and Latin American markets. And Selina is planning to expand to Asian markets by 2020. So far, Selina has secured more than $300 million in real estate commitments and it is in advanced negotiations for an additional $200 million in Europe, Latin America, and the U.S.
