Investment

Selina raises $100M to expand services globally

LatAm List – Selina, a network of boutique hostels focused on digital nomads, recently raised a $100M round at a $850M post-money valuation, as reported by TechCrunch. While the business is based in the EU, Selina found its beginnings in Latin America, while its founders, Rafael Museri and Daniel Rudasevski, were living in Panama.

This round was led by Access Industries, along with Grupo Wiese and previous investors Colony Latam Partners. Selina also previously raised funding from Abraaj Group and WeWork founder Adam Neumann.

Alongside the capital invested, Selina garnered $300M in local partnerships, helping the team lease and refurbish unused spaces to turn them into “cultural hubs, quickly,” according to Rafael Museri. Selina focuses on bringing together the worlds of work and travel as people demand more flexibility and opportunities for remote work.

From TechCrunch:

“We believe Selina’s focus on building a global hospitality platform for digital nomads will redefine the way millennials live, work, play, learn and give back,” said Lincoln Benet of Access Industries, in a statement.

 

“This is the future of accommodation. Airbnb is improving but we are doing something completely different. We don’t think any one brand will touch all three spaces [of work, sleep, play] the way that we will,” said Museri.

Read more in TechCrunch.

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