Badi perfects its 'matches' and shoots up revenues

In a society where more and more decisions are made with a mobile phone, the Barcelona startup Badi has transformed the way of understanding a process as complicated as the search for flatmates, making obsolete the posters hung in the faculty bar or publications in a Facebook group. Its application allows finding a new tenant by looking at profiles, a gesture that Tinder has made commonplace.

After verifying that people like to match even to find a flatmate, the emerging company has perfected its operation, monetizing, like Tinder, payment for certain services. Thus, it has created personalized recommendations and verified profiles, allowing owners to receive suggestions from users with the best scores by analyzing the description of their preferences and behaviors in the application.

"We are not a traditional rental platform, so we did not want to operate as such. Getting our matching to become a source of income was natural for our users," explains Badi founder and CEO, Carlos Pierre. The result of introducing this new way of understanding the platform has allowed generating almost 20 million recommendations with a precision level of 83%, that is, the apartment visits that are organized are more effective and those that were not going to end in an agreement are eliminated. In fact, visits have been reduced from 25 to three on average and the rental time from one month to less than ten days. And revenues have soared by 104%.

Likewise, Badi has decided to test a new business line, expanding its business model from shared flats to entire flats. Since January, more than 10,000 flats have been published on the application and it is estimated that this number will triple by the end of the year. Due to the crisis in the tourism sector caused by the pandemic, the Barcelona-based startup also explored renting empty hotel rooms.

As a result of the first two quarters of 2021, the company is preparing a new investment round to solidify its business model and continue expanding. Since its launch, the platform has managed to raise 45 million dollars in five funding rounds led by US investment funds, such as Goodwater Capital, obtaining a total of 30 million dollars in the last one it made.