SPOTAHOME ESTABLISHES THE FIRST EUROPEAN PROPTECH HOLDING COMPANY THROUGH ITS ACQUISITION OF ERASMUSU

Spotahome, the online platform for mid- to long-term rental accommodation, has acquired Erasmusu – an international online student community of more than 6 million annual users – to expand its offering worldwide.

Spotahome’s acquisition of Erasmusu has led to the establishment of Spotahome Group, the first and largest PropTech holding company dedicated to the intermediation of mid- to long-term rentals. Spotahome Group now offers more than 115,000 flats, houses, rooms and student residences, and employs over 235 staff from more than 30 different countries.

Users of the Erasmus website will continue to have access to all the information regarding international student destinations, universities and accommodation. The platform will continue to operate as a classified site with listings of student accommodation; a segment which generated transactions from over 450 cities in 65 countries worldwide in 2017 alone.

The first new countries to join the portfolio following the acquisition are Lithuania and Poland, with five new cities including Warsaw, Krakow, Gdansk, Lodz and Wroclaw. The Homechecker team has begun the process of verifying properties which includes checking the properties, creating videos, 360º photos, detailed floor plans and information about the local area.

Alejandro Artacho, CEO and Co-founder of Spotahome, comments:“The union of Erasumusu and Spotahome under the global banner of Spotahome Group will allow us to offer a transparent, fast and simple model for 100% digital property rentals to clients across the globe including both tenants and landlords.

“Following the acquisition, the portfolio of properties available to rent and book online will exceed 115,000 in 450 cities across 65 countries, making Spotahome Group the leader in the student accommodation rentals segment.

“The engagement levels of Erasmusu’s community, which is made up of millions of students, is providing us with valuable insights into this sector and opening the gateway to develop the best possible experience across all digital platforms.

“Alongside the Erasmusu team, we will work hard to take advantage of the collaboration and continuously innovate the client experience. We are extremely impressed with the results achieved by the Erasmusu team that, without investment, have created a unique community – they are a stellar example of entrepreneurship.

Javier López, CEO of Erasmusu, adds: “Being a part of the Spotahome Group will allow us to offer an even more comprehensive service to the millions of students that form Erasmusu.  Since Erasmusu’s launch in 2009, we had not sought partners or investment, until we saw an opportunity to work side-by-side with the Spotahome team to further bolster the strength of our platform.

“Erasmusu and Spotahome first grew exponentially on their own – it’s exciting to now join forces and create something even greater together.”

Emilio Nicolás, CTO and Co-founder of Erasmusu, states:  “We are excited to embark on this adventure with new colleagues who share the same values and who strive to offer the best possible services to students. “

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