Proptech secures $50m in Series B round and launches London operations

A real estate tech firm has closed a $50m Series B funding round and launched its London base.

Blueground has launched in London, as well as raising the equivalent of £40m in a round co-led by investment firms Prime Ventures and WestCap Investment Partners.

Specialising in short-term lets, Blueground leases furnished apartments for a minimum period of 30 days.

With this latest round of funding, Blueground will increase resources to further develop its proprietary technology, product design, guest experience, as well as expand its presence in the US and Europe.

Blueground co-founder and CEO Alex Chatzieleftheriou, commented: “We are very pleased to be launching in London and to begin operating in a recognised business hub for so many.

“London is an excellent addition to our existing locations and we are really confident that it will become our largest European market soon.

“We are excited to see how our operation in London will shape the future of our company and prepare us for further expansion.”