Selina, a US-based provider of short-term accommodation and working spaces, raised $100m yesterday in a series C round led by diversified conglomerate Access Industries.
Diversified holding company Grupo Wiese also took part in the round, alongside investment firm Colony Latam Partners. It valued Selina at $850m post-money, the company told TechCrunch.
Founded in 2015, Selina provides short-term private and shared accommodation across 13 countries, in sites that combine living space with co-working facilities, local experiences and wellness, food and beverage offerings for workers with a nomadic lifestyle.
Selina has secured $300m in real estate financing to date and is negotiating an additional $200m. It plans to open an additional 35 properties across the US, the UK, Germany, Portugal, Greece, Israel, Argentina, Brazil and Mexico this year.
The company will also expand further into Europe and Latin America, and intends to enter Asian markets by 2020. Longer-term, Selina hopes to provide 130,000 beds and more than 400 properties by 2023, up from more than 22,000 beds currently.
Selina has now received $225m in equity funding according to TechCrunch, though details of its series A round could not be ascertained.
The company did secure $95m in series B funding from private equity group Abraaj, whose Latin American operation has since been acquired by Colony Latam Partners, and Adam Neumann, founder of We Company, the co-working space provider formerly known as WeWork.
