2/1/2024 0 Comments Flat io twitterThe company has recorded a 20 per cent growth in bookings year-on-year and a 100 per cent revenue increase in key cities. Unlike other rental platforms, Flatio’s business model has proven stable through the pandemic. In Czechia, where Flatio is based, the company noticed a 111 per cent increase in landlord onboarding in March and 492 per cent in September. In Portugal, where NomadX is based, many landlords who previously relied on short-term holiday rentals are now looking at mid-term renting as a way to safeguard their income against a possible second wave of the epidemic. This has sparked an interest into short- and mid-term month-by-month renting as workers look to break the lockdown boredom by working from different properties at home and abroad. With firms such as Twitter and Facebook now encouraging workers to stay home even in 2021, many traditional, salaried workers are for the first time able to work from anywhere in the world. As many companies around the world warm to allowing their staff to work remotely, there is an increasing number of potential mid-term rental consumers. Together, the companies are hoping to thwart Airbnb’s advance into the increasingly lucrative and rapidly growing mid-term rental sector.Īfter discussions of a merger began in July, the two start-ups moved fast – in part because of the shifting attitudes toward working from home exacerbated by the Covid-19 pandemic. The Brno-based mid-term property renting platform Flatio yesterday merged with the Portuguese start-up NomadX, a rental marketplace aimed at digital nomads.įounded in 20 respectively, the two start-ups have a combined value of nearly 11 million euros and will now combine their listings (Flatio’s 9,000 across 60 cities and 17 countries and NomadX’s 1,700 in Portugal alone) while expanding into new markets such as the United States, United Kingdom, and Brazil.
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