Financing round of EUR 21 million for Limehome Assets
Munich — Reed Smith has advised its long-time client Global Growth Capital on a debt investment in Limehome Assets GmbH, a hospitality startup that is leading the hotel industry into the new decade.
Global Growth Capital’s investment is part of Limehome’s new €21 million funding round, with all existing investors, Lakestar, HV Holtzbrinck Ventures, and Picus Capital, led by Lakestar, increasing their participation.
Limehome Assets, based in Munich, rents apartments and furnishes them as apartments for short- and long-term rent. At the beginning of last year, 5 million euros already flowed into the startup, which was founded in 2018 by Lars Stäbe and Josef Vollmayr (photo from right to left: source Limehome). The company automates all the traditional processes of a hotel operation via its proprietary technology platform — from pricing, to booking, check-in, cleaning, customer service and invoicing — by combining the design aspirations of a premium hotel with the efficiency of a consistently digital operating concept. Since launching about 18 months ago, Limehome has already opened more than 30 locations and contracted another 35 properties. This alone will make Limehome the hotel concept with the second most locations in German-speaking countries in 2020.
Global Growth Capital organizes customized, innovative debt capital solutions with ticket volumes between 5 and 50 million euros. The flexible approach to structuring and an efficient decision-making process enable technology companies and their entrepreneurs to achieve sustainable growth.
Advisor to Global Growth Capital: Reed Smith
The legal team led by Florian Hirschmann (Private Equity/M&A) and Philipp Johannes Bergmann (Financial Market) included Jane Grinblat (Financial Market), Tobias Schulz, Joshua Etspüler (both Private Equity/M&A), Dr. Etienne Richthammer and Frederik Laux (both Real Estate).
Advisor to Limehome Assets GmbH: Hogan Lovells International LLP (Munich)