New York based short-term apartment rental startup has raised $50m in Series B funding co-led by WestCap and Prime Ventures.
Founded in Europe in 2013, Blueground formally launched in the U.S. in the summer of 2018. The company has a unique strategy. It leases apartments and then upgrades, and fully furnishes them, making them available for renters looking for “turnkey” rentals. Blueground typically leases apartments before they hit the market, with a goal of holding them for many years. The startup, which has partnered with more than 2,000 landlords, leases those apartments to “vetted” renters for time periods ranging from 30 days to a year, or longer.