Accommodation booking platform Student.com clinches $60m
The founders of Spotify have backed round in London-based start-up to enable it to expand reach in US, Latin America and Middle East
International student accommodation marketplace Student.com (previously known as Overseas Student Living) has announced the completion of a $60 round of investment led by VY Capital.
Spotify founders Daniel Ek and Martin Lorentzon,Horizon Ventures, and Expa also backed the round.
Founded by Luke Nolan in 2011, Student.com aims to make booking international accommodation simple and secure for the estimated five million global students currently studying abroad.
Last year, the business claimed to have received $110m in bookings from students across more than 100 countries. The platform hopes to list properties in 426 cities within the proximity of more than 1,000 universities during the upcoming academic year.
It will use the funding round to fuel growth across the US, Latin America and the Middle East, and will also use the investment to make new hires.
“This round of funding, and what we’ve got in store for Student.com over the next few years, should enable us to help millions of students have the best possible study abroad experience.”
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Alexander Tamas of VY Capital, said: “The student housing market is one of the largest untapped real estate opportunities in the world, with international students contributing tens of billions of dollars to local economies.
“Student.com has built a platform that will truly revolutionise this market by bringing choice, access and a high-quality living experience to students around the world.”