A year after its first fundraising, the Parisian startup Flexliving is repeating the exercise. Investors such as Clément Alteresco from Morning and a club of business angels led by Henri de Lorgeril (Avizio), including the founders of GetAround, Unkle, Playplay, BackMarket, Spendesk, are participating in the operation.
Objective for the company founded at the end of 2021 by Alexandre Marcadier, Caue Brioli and Lionel Bodénès: double its offer to reach 700 housing units and profitability at the end of 2024. Passed by StationF, the team currently made up of 12 people should also expand to reach around twenty people. Enough to accelerate the deployment of its three corporate housing offers to meet the demand for flexible housing for mobile employees.
Accommodation ticket like restaurant ticket
The first, FlexHouse, offers turnkey and fully managed company accommodation. With FlexQuarters, companies can choose corporate colocation. “A user-friendly solution that strengthens team culture”, presents Caue Brioli, co-founder. Finally, Flexliving also relies on a housing subscription model. Called HyperFlex, this formula allows companies to subscribe to a monthly subscription for their relocated employees. They can reserve their rooms among a range of accommodation located in the heart of Paris.
“Rather than reserving several hotel rooms, HR centralizes the travel policy via our platform. Employees, for their part, have the right to retain their accommodation. And with single invoicing, there is no need to manage and advance expenses, which saves time internally”, assures the manager. This accommodation ticket in the style of a restaurant ticket is displayed in parallel as “an innovative salary advantage” et “strengthens the employer brand of companies”. This at a lower cost, “20 to 40% cheaper compared to traditional solutions”supports Caue Brioli.
Another advantage of the startup is the premium location of its properties close to business and/or family districts (9th, 10th, 14th, 15th and 17th arrondissements) capable of attracting consultants, employees in training and other teams relocated to foreigners brought to the French capital for work.
Institutional and private partners
After launching on the market with only around thirty rooms in 2021, Flexliving now intends to move up a gear to establish itself in the medium-term corporate housing market (approximately one to 10 months).
To achieve profitability next year and go from 350 housing units currently to 700 housing units in Paris, the company has established partnerships with leading real estate companies, such as Gecina, Primonial REIM and BNP REIM. “In addition to traditional investors, we also work with private investors by renting their apartments on a long-term basis and then operating them”, explains the entrepreneur. Way for them to ensure guaranteed income via 6-year leases, without daily management constraints.
And if for the moment the turnover and its prospects remain secret, the three founders are already looking at the export market. “We first want to be profitable in Paris and then why not go to other European cities”concludes Caue Brioli, with Barcelona, Milan, Brussels or Madrid in his sights.
2023-12-19 05:55:20
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