The era of shared rentals: London-based co-living startup grabs £1M to expand globally in 2021
London-based Gravity, a co-living startup focused around flexibility, community and personal growth works with the mission to improve the lives of today’s rental generation all over the world. It aims to achieve this by creating a community-centred, borderless and effortless living experience. The co-living company that disrupts the renting industry has three properties located in London – one in Finsbury Park and two in Camden.
Global expansion plans for 2021
The co-living company founded by Riccardo Tessaro and Susanna Rock recently raised $1.4M (nearly £1M) funding. This investment comes at a time when the company has witnessed high growth due to the lockdown loneliness caused by the COVID-19 pandemic. Gravity intends to use the investment to expand its borderless community globally, thereby increasing the range of flexible homes to its members.
Currently, the company is working on a slew of projects with strategic real estate partners in London, Paris and Barcelona. It aims to develop a co-living spaces network in major business hubs all over the world. Already, the co-living company has a pipeline of expansion that sees beds in London double in two months.
Besides international expansion, Gravity will focus on building up its team after doubling the headcount during the pandemic. In addition to the existing co-living spaces in London, the company will launch two more buildings during lockdown, wherein there was a decline for other accommodation operators.
Riccardo Tessaro, Co-Founder and CEO of Gravity, explains, “We’re currently in a new era of co-living. People are done with the ‘hustle harder’ culture, and the pandemic has meant that people have realised there’s more to life than just work. We are currently witnessing increased interest in co-living from the public. I think we can expect to see a co-living boom and a wave of renters moving towards a product that adds value to their lives. We’re seeing the needs of the entire workforce changing and the renting market needs to reflect this”.
Strategic partnerships in the pipeline
Furthermore, Gravity is announcing a slew of strategic tech and startup partnerships in order to make London more accessible for entrepreneurs and talent to live, work and grow. One of the notable partnerships is that of the leading coding bootcamp Le Wagon.
Katherine Willis at Le Wagon said, “At Le Wagon, we have a hugely diverse community of applicants, students and alumni, so offering accommodation options is something we’re proud of! We like Gravity because it’s not just somewhere to sleep, it’s also a thriving community focused on wellness and professional development. Those not from London can feel at home and even more connected to their bootcamp peers.”