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

The Hong Kong start-up, we r urban, was founded by Raphaela Oliver-Köfeler and Cornelius Kistler, and currently 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 2018, it said in a media statement on Thursday (July 19).

"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 Yoan Kamalski, chief executive and co-founder of Hmlet.

Hmlet was founded in 2016 by Yoan Kamalski and Zenos Schmickrath, and offers rooms and apartments for rent. It currently has capacity for 300 members across co-living spaces in Singapore - in locales such as the Central Business District, River Valley and East Coast - as well as Tokyo.

It last announced in November 2017 that it had raised US$1.5 million (S$2.05 million) in seed funding.