20 million euros for Cosi

While hotels suffered in the pandemic, Cosi's business model scored. Now, the Berlin start-up raises 20 million euros.

In a current financing round, the Berlin start-up Cosi has raised 20 million euros. New investor is the Viennese capital provider Soravia, otherwise existing investors such as Cherry Ventures, E.ventures, Kreos Capital and Bremke as well as business angels are 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 unit are also to be created.

Cosi offers short-stay apartments, for which it rents rooms from hotels and individual apartments. Cosi operates similar to a hotel chain, but promises cost savings and more efficiency in the automation of many processes. This has also convinced investor Soravia, as CEO Erwin F. Soravia explains: "Cosi's model allows for 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."

For despite Corona, the start-up says it has weathered the past few months well. "The fresh capital enables us to take advantage of the current, probably unique opportunities and establish Cosi as a European leader," explains Christian Gaiser, CEO and co-founder of Cosi. According to its own information, Cosi currently has 750 units under contract and is negotiating for a further 1,500. So far, Cosi is represented at twelve locations.