Wynwood House, a Peruvian Startup That Rents Out “Hotel-quality” Apartments, Raised US$7 Million 

Wynwood House, a Peruvian startup that follows the line of global companies such as Sonder as an alternative to Airbnb, halfway between Airbnb and hotels, raised US$7 million in a seed round that will allow it to continue growing in LatAm and beyond. Forbes Peru broke the news, stating that Wynwood House is already present in Peru, Colombia, Mexico, and Panama, and after the round, it plans to reach Chile, the US and Spain. 

The round was a mix of equity and debt, although the proportions were not disclosed. According to data from Wynwood House, founded in 2019, the company is closing the year with 1,000 units for rental (adding the countries where they have a presence) and intends to reach 2,5000 units by 2023. 

The CEO of Wynnhood House, Ignacio Masías, explained to this Peruvian outlet its business model, which is very similar to that of Sonder, a company founded in 2014 in Canada that today has a global presence and is publicly traded. It consists of leasing apartments to their owners and then fitting them out and offering short-term rentals to customers who value the spaciousness of an apartment and, at the same time, the comfort and consistency of hotels. 

Wynwood’s slogan summarizes this approach very well: “Home experience, Hotel quality.”

According to Masías, with them, real estate investors can monetize their properties up to 30% more than in the traditional rental market and without having to take care of the operation since the company handles everything.

Ignacio Masías, CEO of Wynwood House (Photo: LinkedIn).

He said that it also has B2B clients (companies, embassies), and a branch dedicated to providing advice to real estate investors looking to buy apartments that the startup will then operate.

According to what Masías told Forbes Peru, Wynwood House expects to have in 2023 its series A, although he said that, unlike other companies, they do not depend so much on external financing to be profitable. 

Image: Adobe Stock.

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