20 million euros for Cosi

While hotels suffered during the pandemic, Cosi's business model scored highly. The Berlin start-up is now raising 20 million euros.

The Berlin-based start-up Cosi has raised 20 million euros in a recent financing round. The Viennese investor Soravia is a new investor, while existing investors such as Cherry Ventures, E.ventures, Kreos Capital and Bremke as well as business angels are also involved. The founders of Cosi have also invested. The founders want to use the money for expansion, and a new brand and a new business area are also to be created.

Cosi offers short-stay apartments by renting rooms from hotels and individual apartments. Cosi operates in a similar way to a hotel chain, but promises cost savings and greater efficiency through the automation of many processes. This has also convinced investor Soravia, as CEO Erwin F. Soravia explains: "Cosi's model enables a better return than a hotel product, while the risk of loss is limited as with an apartment - a win-win situation for real estate partners."

Despite coronavirus, the start-up says it has weathered the past few months well. "The fresh capital will enable us to take advantage of the unique opportunities that are currently available and establish Cosi as a European leader," explains Christian Gaiser, CEO and co-founder of Cosi. According to Cosi, it currently has 750 units under contract and is negotiating a further 1,500. So far, Cosi is represented at twelve locations.