We're excited to share that Pabio has raised a seed round of $2.2 million and expanded our offering to Berlin, Germany.
We announced our pre-seed round of $1 million in August (Pabio raises $1M pre-seed and joins Y Combinator) led by Serpentine Ventures (Swiss Startup Group) and Session.VC. Since then, we've grown to serving over 100 homes in Switzerland and are delighted to launch in our first German city.
Our existing investors Serpentine Ventures and Session.VC participated in our seed round, and they were joined by some great European and American funds and angels, including Tomahawk.VC, Pioneer Fund, and DD Venture Capital.
We're working hard on making Pabio available in more cities over the next few months, so stay tuned for more announcements in 2022!
Haje Kamps of TechCrunch wrote about our seed round and launch in Berlin:
The company started in Switzerland a couple of years ago with a mission to stop people from buying disposable Ikea stuff for a two-year stint in an apartment, replacing it with well-styled, well-thought-out interior design suggestions and robust, reusable and recyclable furniture. Today it announced it expanded into Germany and raised a drawer-full of cash to expand its marketing and to reach into additional European countries.
Tim Brady of Y Combinator (former Chief Product Officer of Yahoo! and co-founder of Imagine K12) was also quoted in the article:
It’s a great time to build a rent-to-own company. It’s very hard for millennials to pay tens of thousands of dollars up front to get furniture for their apartment. Pabio makes this easy and affordable without compromising on quality.
Read the article on TechCrunch: Furniture rental company Pabio expands to Germany