Tripalink Raises Series A+ Funding of $5 Million; Aims to Bring-in the Next WeWork in Housing Industry
Tripalink, a start-up that focuses on building an open co-living community for millennials has raised a series A+ funding of $5 million which is their second time funding round within six months. The funding round was led by Calin SJG Fund along with K2VC, e-Broker, and Tekton Ventures.
Donghao Li, CEO, Tripalink, says, “We are inspired by the concept of WeWork. And we'd like to bring this idea of space sharing into young people's daily life by creating a co-living community. Compared to hotels and traditional student apartments, Tripalink's high-quality one-stop service and core value of building a Co-living community free all our residents from chores and set their mind at ease, offering a supreme living environment and experience.
Millennials are expected to take up the largest percentage of the living with numbers increasing to 73 million, and co-living is the trendiest lifestyle in recent years. Co-living community provides spacious and versatile common areas to fully meet the residents’ demands.
Founded in 2016, Tripalink served over 4,000 youths and with an average renewal rate amounting 75 percent. By far, it has expanded business in Pittsburgh and Seattle, and it will enter Austin and Philadelphia this year. Tripalink offers high-quality and personalized U-Living units. It is expected that by the end of 2019, the number of the bedspace available will exceed 3,000 and at least 10 news V-Living apartments will be delivered. Tripalink’s rapid growth is the result of the insight into a great market potential and firm belief in the value of connectivity fostered by co-living community.
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