Massive equity raise for startup conceived in Greece

A start-up first conceived in Greece, Blueground, aimed to offer short-term furnished apartment rentals in major cities and holiday destinations around the world, has raised $140 million in equity funding from investors led by Laurence Tosi’s WestCap Group, according to a Bloomberg dispatch on Monday.

According to Blueground CEO Alex Chatzieleftheriou, other major investors included Geolo Capital, VentureFriends and Prime Ventures.

Bloomberg put Blueground’s value at roughly $750 million, citing unnamed sources, while adding that the now NYC-based company separately obtained a $40 million debt facility from Silicon Valley Bank.

Chatzieleftheriou co-founded Blueground in 2013 in Athens, after saying he endured months-long hotel stays for various employment stints while working as a McKinsey & Co. consultant. He said he realized the need for furnished apartments for short durations.