Cosi Group announced completing a €20M funding round backed by Soravia group and existing investors.

Cosi Group, a Berlin, Germany-based provider of short-term rentals, announced completing financing totalling €20M ($23.8M).

The money was raised from investors led by Soravia and included contributions from existing investors Cherry Ventures, e.ventures, Kreos Capital, Andreas Bremke, the founders of Flixbus, Travelperk, Comtravo, and the COSI founders.

The fresh capital will be used to accelerate its international expansion in Europe, implement a new brand, and launch a new strategic business unit soon. "In recent months, there has been a seismic shift happening in the real estate industry. The cards are being completely reshuffled. During Covid, we have consistently proved the resilience of our model – and the results speak for themselves.

Cosi Group, founded in 2019 by Christian Gaiser (CEO), Dimitri Chandogin, Gerhard Maringer and Inga Svinhufvud Laudiero, develops new technology solutions for the real estate industry, focusing on hotels and apartment rentals. COSI automates operational processes and enables hotel operators to save up to 60% through restructuring. Currently, COSI has 750 units under contract, with 1,500 more currently under negotiation.