Hospitality startup Blueground bags $12 million from Jabbar Internet Group

New York City-based hospitality startup Blueground just raised $12 million from a group of global investors including UAE’s Jabbar Internet Group, VentureFriends, and Endeavor Catalyst.

Blueground, founded in 2013, provides business professionals and individuals with premium rental properties with high-end furnishing. The startup currently has over 1000 apartments in its portfolio across nine markets which include Dubai, Istanbul, New York, San Francisco Bay Area, and Athens.

Alexandros Chatzieleftheriou, CEO and Co-founder of Blueground commented on the investment saying: “Over the past 5 years, the Blueground team has reimagined the professional leasing sector of the real estate market in Dubai and eight other cities in the US and Europe. As demonstrated by the funding, renowned investors who have previously invested in successful startups like Souq.com express confidence in our business model and success.”

Amine Housni, Blueground Regional Manager for the Middle East, adds: “Dubai has been one of the strongest Blueground markets and instrumental in our rapid growth. Having launched in Dubai just two years ago, we have built an impressive portfolio of more than 300 properties in some of the Emirate’s most desired locations, such as Dubai Marina, DIFC, Downtown, and others. We believe Dubai will continue playing a key role in our future growth, and the new funding will help us sustain this rapid growth and move us closer towards the goal of doubling our Dubai presence to 600 properties over the next year.”

Bahrain-based digital platform and publication for startups in the Middle East. Exclusive events, in-depth workshops, insightful content, and informative news. In strategic partnership with Tamkeen Bahrain, Zain Bahrain, National Bank of Bahrain, Zoho, Tenmou, and StartUp Bahrain.

Startup MGZN © 2020. All Rights Reserved.