Channel Manager for Homelike

Homelike’s Founding Story

Dustin Figge and Christoph Kasper, two entrepreneurs with extensive corporate travel and relocation experience, crossed paths in Silicon Valley in the winter of 2013/2014. Both had faced the frustrations of finding suitable long-term accommodation while on business trips–small hotel rooms that felt cramped and impersonal, and the arduous task of locating furnished apartments through offline, localized channels. Then, the idea for Homelike was born, a professional accommodation portal tailored to the needs of business travelers.

Drawing from personal experiences, Figge and Kasper recognized a glaring gap in the market and created a platform that seamlessly connects business travelers with high-quality, fully furnished apartments for extended stays.

The Homelike Business Model

Homelike operates as a Business-to-Business (B2B) platform. Unlike other platforms, Homelike is an intermediary linking furnished apartment suppliers with corporations and business travelers seeking long-term accommodations.

Homelike partners with reputable property owners, ensuring every listed apartment meets stringent quality standards. Homelike’s approach guarantees a consistent, professional experience for corporate clients while offering a compelling value proposition. Companies save up to 50% on accommodation costs compared to hotels, while employees enjoy the comfort and flexibility of a fully furnished, home-like environment.

Homelike caters to the specific needs of corporate clients. The platform facilitates invoicing and streamlines the booking process, enabling businesses to account for employees’ accommodation expenses seamlessly. Homelike enforces a minimum stay of 30 nights, aligning with the requirements of long-term corporate travel.

Growth and Rapid Expansion

From launching with nearly 1,000 apartments across four German cities in 2015, Homelike has experienced remarkable growth. The founders’ initial strategy was to create a viable product and generate revenue before seeking external investment. The approach paid off, and the company soon attracted the attention of angel investors from the tech sector, financial planning experts, and real estate investors.

Over the years, Homelike has raised over $18 million in funding, with prominent investors such as Coparion, a venture capital fund co-invested by KfW and the German Federal Ministry for Economic Affairs and Energy. The influx of capital has fueled the company’s expansion, enabling Homelike to grow to over 45,000 apartments across more than 100 cities throughout Europe.

Homelike’s key strength is retaining company culture and fostering effective internal communication. The company has implemented cross-functional meetings and internal communication channels to ensure seamless collaboration across various offices.

The Digital Transformation of Real Estate

Homelike delivers a frictionless user experience, providing corporations with secure, integrated processes. For landlords, Homelike is the platform to list an entire inventory online and handle end-to-end booking and billing processes.

Homelike generates valuable data insights on rental prices, locations, floor plans, and more, positioning the company to vertically integrate with developers and create new, tailored supply for the business travel segment.

Entrepreneurial Insights and the Future of Homelike

Dustin Figge, the co-founder and CEO of Homelike, attributes the company’s success to a commitment to communication and continuous improvement. He emphasizes the importance of gathering insights from investors, employees, and external advisors, fostering an environment of continuous learning and growth.

Looking ahead, Homelike focuses on expanding to key European cities, such as London, Liverpool, Madrid, and Barcelona. The company aims to leverage data-driven insights to collaborate with developers as well and create new, purpose-built supplies designed specifically for the needs of business travelers.

As the real estate industry transforms digitally, Homelike is poised to play a pivotal role in shaping the “living-as-a-service” model.