Badi closed a $10 million Series A investment, led by Spark Capital

Badi, a Barcelona, Spain-based company operating a marketplace for short term rentals, announced closing $10M in series A investment.

The round was led by US-based Spark Capital and included venture capital firm Mangrove Capital Partners and business angels Didac Lee and Marc Ingla. The deal values ​​the company at about $ 40 million and aims to help the company to move forward in its process of international expansion.

Spark’s general partner Alex Finkelstein will join Badi’s board.

Badi, founded in 2015 and led by CEO Carlos Pierre, built its platform with the aim of disrupting the older classifieds approach to room rentals, where people list rooms to rent and then have to do lots of manual legwork fielding all the calls and emails their advert receives. They also want to offer an alternative to agencies that sit between landlords and room renters — by stripping away that middleman layer and replacing it with their own tech-enabled recommendation platform.

After the round, badi will incorporate into the United States (Delaware) but will keep the main headquarters in Barcelona.