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Co-Living Startup Hmlet Raises US$1.5M To Help Young Professionals Find Cheaper Lodging

Singapore’s first tech co-living space startup Hmlet recently announced that the company has raised a seed funding of US$1.5 million led by Aurum Investments.

With this round of fundraising, Hmlet plans to expand to Hong Kong and Osaka while expanding their portfolio in Singapore and Tokyo.

The round is also supported by several angel investors including seasoned angel investor, Huang Shao-Ning, co-founder of JobsCentral Group and partner at Entrepreneur First.

Hmlet is one of the first investments made by Aurum Investments, a Singapore-based venture fund and subsidiary of Woh Hup Holdings Pte Ltd.

Aurum is also a sister company of collaborative innovation workspace Collision 8.

Michelle Yong, director of Aurum and co-founder of Collision 8, said Hmlet is “in sync with Aurum’s vision”, and they are excited to be part of their journey in revolutionising living spaces.

Revolutionising Living Spaces 

hmlet’s two co-founders / Image Credit: hmlet

Incorporated last year, Hmlet runs co-living spaces where young working professionals can rent rooms and apartments at an affordable monthly fee.

Renting rooms with Hmlet does not require long-term contracts, and members have the option of moving between Hmlet spaces across countries as well.

Hmlet currently owns co-living spaces across Singapore and Tokyo, with over 170 members spread between the two countries.

“We wanted to create co-living spaces that are responsive to the flexibility needs and stylistic preferences of today’s mobile, millennial workforce,” said Hmlet CEO and co-founder Yoan Kamalski.

Besides designing these spaces, Hmlet also uses technology to integrate personality matching tests within the on-boarding process to ensure compatibility between members sharing the co-living space.

Fellow co-founder Zenos Schmickrath, who also spearheads technology, said this helps to empower people to create real and meaningful relationships.

In other news, Hmlet has recently inaugurated its new building at Joo Chiat Road, Singapore. Since its opening six weeks ago, the building has already reached 95% occupancy.

It also raked in a revenue of over a million dollars last year.

Featured Image Credit: Hmlet

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