Press

Rakuten invests $2.8m in Singapore-based serviced apartment startup

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MetroResidences has 400-plus apartments in its portfolio. To date, more than 115,000 room rights have been booked by 800 corporate clients through the platform.

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Rakuten invests $2.8M in ‘Airbnb for business travel’ startup MetroResidences

successful business woman talking on mobile whilst looking at London city below from apartment window

It is currently active in Singapore, but has plans to expand into Hong Kong and Tokyo using this funding, which is the startup’s Series A, and takes it to $3.5 million from investors to date.

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Meet MetroResidences, a Corporate Travel startup that is taking on Airbnb in Singapore

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The company is 3 years old and sales grew 300% in 2016 vs 2015. Unlike most startups that are burning cash, the company is profitable.

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Singapore’s ‘AirBnb for business travellers’ expand to Hong Kong

The startup is also expected to open a Series A funding round to support the expansion to Hong Kong, though a timeline has not been given.

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MetroResidences’ Interview on Channel NewsAsia

Find out how MetroResidences contributes to the sharing economy in Singapore. View the full clip on Channel NewsAsia website.

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Metro Residences in TechinAsia Feature

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“For a long time, corporates had to rely on brands such as Frasers and Ascott. MetroResidences is now offering them a fresher option, to take a piece of this billion-dollar market,” says 500 Startups managing partner Khailee Ng.

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DealStreetAsia Feature

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Khailee Ng, Managing Partner at 500 Startups, was of the view that ‘for a long time corporates had to rely on brands such as Frasers and Ascott’.
“MetroResidences is now offering them a fresher option, to take a piece of this billion dollar market,” he added

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500 Startups leads US$1M seed funding in
Singapore-based MetroResidences

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The online corporate apartment rentals startup will use the funds to increase marketshare in Singapore as well as to expand into another Asian city.

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