Singapore’s co-living startup Hmlet acquires we r urban in HK push

Hmlet co-founders Yoan Kamalski and Zenos Schmickrath. Credit: Hmlet

Singapore-based co-living startup Hmlet has entered into an agreement to acquire Hong Kong-based we r urban to fuel its regional expansion.

According to Hmlet, we r urban (spelt in lower case) currently manages a portfolio of 30 co-living spaces and houses 70 members across 15,000 sq ft in Hong Kong. Following the acquisition, Hmlet is looking to more than double the number of members in the city-state by end of this year.

Financial terms of the transaction were not disclosed. Hmlet had closed a $1.5-million seed round led by Aurum Investments last November, with plans to expand into Hong Kong and Osaka.

“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 Hmlet CEO and co-founder Yoan Kamalski.

Kamalski started Hmlet with co-founder Zenos Schimickrath in 2016 with the vision of reinventing the way people live by responding to the needs of today’s mobile millennial workforce. It has a 300-member capacity across its co-living spaces in Singapore and Tokyo.

we r urban was founded by Raphaela and Oliver-Kofeler and Cornelius Kistler to meet the growing demand for affordable housing as the first co-living concept in Hong Kong. Its director of real estate and renovation Dominik Wiesent and managing director Pauline Wetzer will retain their positions at we r urban.

Also read:

Singapore: Hmlet raises $1.5m seed round led by Aurum, to expand to HK & Osaka

Chinese co-living firm Harbour raises $2.58b for two China property buyout funds

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.