Blueground Invests in Brazilian-Based Startup Tabas

Blueground is excited to announce our first-ever investment in the rapidly growing PropTech space. We led the latest round of investment in Tabas — a fast-growing flexible living startup based in Brazil — that recently raised a total of $14 million in new capital investment. This move is not only a sound investment, but an exciting step in Blueground’s future as a category leader in the space of flexible rentals across the world.

Tabas’ mission to bring the joys of flexible living to new markets in Latin America is very close to our hearts at Blueground. “Tabas entered the market during one of the toughest economic times in recent history, and their tenacity and high growth rate are what attracted Blueground to invest in the growth of Tabas,” said Alex Chatzieleftheriou, Blueground’s CEO and co-founder. “There’s a natural synergy between our two companies, and I am looking forward to paving the way for the future of living together.”

Like Blueground, Tabas rents stylish homes for 30 days or longer, guaranteeing the property maintenance to the owners along with uncomplicated and well-assisted reservations to the tenants. In less than two years, Tabas has leased and renovated more than 360 apartments in São Paulo and Rio de Janeiro. The company plans to expand to a total inventory of 1,200 apartments in Brazil by the end of 2022.

Blueground’s new stake in Tabas is more than just a capital investment. We’re thrilled to share that Alex will join Tabas’ board of directors, and Blueground will also lend our expertise in the flexible living sector — including our proprietary technology — to further support their development.

“We’re excited to have Blueground as our lead investor in such a pivotal moment in our growth,” said Leonardo Morgatto, CEO and Founder of Tabas. “With this new capital and opportunity to tap into Blueground’s eight years of experience in the sector, we’re able to support our growth and new market launch as well as invest further in our technology and talent to hit our key milestones in the next year.”

This new partnership with Tabas is the first collaboration as part of Blueground’s overall growth strategy for the next few years. Stay tuned as we announce our expansion into four new markets in the months to come!