Marking the first acquisition in Blueground’s nearly 10-year history, the company will soon acquire Tabas after leading Tabas’ $14 million Series A funding round earlier this year. Tabas is the largest operator of designer-quality furnished apartments for 30 days or more in São Paulo, Rio de Janeiro, and Brazilia. The acquisition, which is expected to close in early Q1 2023, enables Blueground to enter the Latin American market, and fuel the increased demand for furnished, flexible rentals in the region. Together Blueground and Tabas will launch Mexico City in early 2023.
During the period between now and close, the two companies will continue to operate independently and will gradually integrate over the next year. The combined organization will have a presence in 29 cities across 16 countries, employing over 1,000 people. Based on current financial projections, the joint entity is projected to generate ~650M in 2023.
Blueground is the largest turnkey property rental company in the 30+ day sector. It has a network of 9,500 move-in-ready, expertly-designed homes enabling people to flexibly live wherever they choose. The company was co-founded by CEO Alex Chatzieleftheriou in 2013, who, after many years as a business consultant, had experienced first-hand the pain points of living out of hotels for work for months at a time. He aspired to create a seamless way for people to freely move between neighborhoods, cities, and countries around the world.
Blueground currently works with over 4,700 landlords globally, guaranteeing them rental income while providing expert property management and maintenance services at scale. The acquisition of Tabas will allow Blueground to grow its network faster, supporting its goals of 40,000 apartments across 50 cities by 2025, and add more location options for its client base.
