Co-living start-up enters HK market with acquisition

Singapore-based co-living start-up Hmlet has acquired we r urban, marking its expansion into the Hong Kong market.

A Hong Kong start-up, we r urban was founded by Ms Raphaela Oliver-Kofeler and Mr Cornelius Kistler, and manages a portfolio of 30 co-living spaces, housing 70 members across 15,000 sq ft on Hong Kong Island. Hmlet has plans to double the number of members in the city by the end of the year.

"Hong Kong is a natural next move for Hmlet, and this investment allows us to impact millennials across Hong Kong, allowing them to grow, scale and succeed," said Mr Yoan Kamalski, chief executive of Hmlet in a statement yesterday.

Hmlet was founded in 2016 by Mr Kamalski and Mr Zenos Schmickrath, and offers rooms and apartments for rent. It has capacity for 300 members across co-living spaces in Singapore - in locales like River Valley and East Coast - as well as Tokyo. It had last November raised US$1.5 million (S$2 million) in seed funding.

Hmlet, a co-living start-up founded in 2016, has capacity for 300 members across co-living spaces in Singapore - in locales like River Valley and East Coast - as well as Tokyo.

A version of this article appeared in the print edition of The Straits Times on July 20, 2018, with the headline 'Co-living start-up enters HK market with acquisition'. Print Edition | Subscribe