Study Abroad Apartments Inc.

Study Abroad Apartments Inc. provides a specialized online marketplace for students seeking furnished accommodations for their international studies, facilitating access to verified rental properties across major European cities. Founded in 2013 by Brett Newman and Ryan Blum, Study Abroad Apartments Inc. operates from New York, US.

The company connects university students with verified rental properties in cities like Barcelona, Madrid, London, and Prague. In May 2018, the company was acquired by Roomi, Inc. , a portfolio company of several investment firms. The latest funding round raised EUR 0.

50 mn from Foro Capital Pymes, and the total amount raised to date is also EUR 0. 50 mn. Study Abroad Apartments offers an online housing marketplace tailored for students seeking furnished accommodations while studying or interning abroad. The core service includes facilitating the search for verified rental properties across prominent European cities, including but not limited to Barcelona, Madrid, London, and Prague.

By creating an easy-to-navigate platform, the company aims to alleviate the challenges associated with securing housing from long distances. The target clientele consists primarily of university students and young professionals, allowing them to live in shared buildings with other international students, fostering community and shared experiences during their time abroad. The service has been operational since its inception in 2013, catering to a diverse demographic of students who value both convenience and connectivity in their living arrangements while overseas. The revenue model for Study Abroad Apartments is structured around transaction fees linked to successful rental bookings made through their platform.

Upon a student selecting a rental property, the landlord has a specified timeframe of 48 hours to accept or reject the booking request. Once accepted, the student must finalize the first month’s rent within three days, with the option to split payments among roommates. Transactions are primarily conducted on a direct-to-consumer basis, where students pay their rent directly to landlords, while the company maintains oversight and support throughout the tenancy. This operational structure allows the company to ensure that the housing offered fits the needs of its clients while safeguarding the initial rental payment until the student moves in or signs a contract, ensuring a consistent revenue stream as students continue to be placed into verified rental properties.

Looking forward, Study Abroad Apartments Inc. aims to expand its offerings by introducing new products designed specifically for enhancing the student housing experience, with potential launches planned for late 2024. The company is also exploring expansion into additional European markets such as Amsterdam and Milan, aiming to establish a presence there by mid-2025. The recent funding of EUR 0.

50 mn will be utilized to support these initiatives, enhancing the platform's capabilities and market reach.