DoveVivo completes EUR15m capital raise
DoveVivo, one of the largest co-living companies in Europe with over 1,500 rental units, and a portfolio of 8,000 rooms in 11 cities, has completed a EUR15 million capital increase.
The cash injection, which saw the participation of the shareholding structure, will directly finance DoveVivo’s ambitious growth plans, beginning with the development of the company’s presence in foreign countries and some strategically important projects for the domestic market.
Valerio Fonseca, Chief Executive Officer at DoveVivo, says: “Despite the current crisis, we are very pleased with this operation, also because it provides us with a positive medium-long term view of the co-living sector, which - in our opinion - will increasingly grow, strengthen and industrialise both in Italy and worldwide. We also believe that DoveVivo will be of growing interest to financial and real estate players and real estate investors as it has a solid industrial, financial and asset foundation.”
DoveVivo’s business model is the modern, entrepreneurial and efficient response to the demand for accommodation from non-residents, offering property owners a RE assets’ investment, upgrading and management service, maximising their long-term value. The company has recently announced its entry into the Florence market, marking the 11th Italian city to be served by DoveVivo’s offering.
DoveVivo is the first and biggest co-living company in Italy. Founded in 2007, today it manages a portfolio of around 1,000 rental units and seven residences in 11 cities. These asset are rented out as either individual rooms or the whole assets to thousands of students and young professionals. Its business model is the modern, entrepreneurial and efficient response to the huge demand for non-residents accommodation.
The company offers property owners a RE assets’ investment, upgrading and management service, maximising value in the long term while, reducing costs and risks to a minimum. At the same time, it provides end customers, who form a community of thousands of tenants, with a professional, transparent and secure solution for living in the city, enabling them to concentrate on their studies and work.