From The Hustle
“Full stack” is typically used to describe a software engineer who can do everything (e.g., back end, front end).
Now the term has made its way into the real estate industry… thanks to Cosi, a Berlin-based short-term rental startup. The company offers 1+ month stays (“midstays”) in furnished apartments equipped with the latest in smart-home technology.
Less than 2 years after their pre-launch seed round, TechCrunch reports that Cosi has raised a €20m (over $23m in US dollars) Series A led by Soravia, a leading European real estate group.
But Cosi’s business doesn’t rely on vacationers or business travelers, instead catering to:
With demand up from these groups, there’s also a boatload of space hanging around in unoccupied rental properties and empty offices (somewhat ironically, most of this real estate is not on boats).
Similar to Airbnb, Cosi has found that 1- to 2-month rentals are a growing segment of travel.
Here are key stats for the startup:
Cosi CEO Christian Gaiser tells TechCrunch that “you can win big” in real estate even during a pandemic. True for stocks, and now apparently true for short-term housing.
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