AI-Powered Room Rental App Badi Launches in New York
Badi, A European Long-Term Room Rental App That Uses AI To Match Roommates, Launched Officially In New York City
(Bloomberg) -- Badi, a European long-term room rental app that uses artificial intelligence to match roommates, launched officially in New York City on Wednesday, adding to the growing list of companies trying to disrupt the home-rental market.
Many apps such as Roomi, Spareroom, and Roomster have been trying to help people find housing in cities like New York, where co-living is becoming more common because of high rents and housing shortages. An influx of tourists and demand for short-term rentals from the likes of Airbnb have also squeezed prices and availability for residents, though officials in big cities have been seeking more regulation to address housing issues.
Still, Badi says general trends toward more urban living, due to social and economic factors, will mean its service stays in demand.
“Every major city around the world is suffering from overcrowdedness and increasing rent prices,” Chief Executive Officer Carlos Pierre, said in a statement Wednesday.
Badi’s algorithm uses information such as age, gender, interests, and lifestyle preferences to help users find rooms or tenants on its platform. Users can directly chat with potential roommates using an in-app messaging feature. They can also make and receive payments on the platform, according to the company. Using artificial intelligence and machine learning, Badi’s algorithm can analyze behavioral data to offer “more quality connections between renter and seeker,” according to the company.
The startup, which launched in 2015 in Spain, has more than 2 million users and 300,000 listings in cities including London, Barcelona, Madrid, and Berlin. The company had a trial run in New York in November, and wants to expand in the U.S.
Badi has raised $45 million in funding, including $30 million from consumer-tech investor Goodwater Capital, their first in a Spanish startup. The company, which added 75 new employees last year, is actively pitching investors for more capital, according to Christian Picard, vice-president of supply and operations.
The company is planning to expand into other U.S. cities such as San Francisco by the end of this year or early 2021, Picard said.
To contact the reporter on this story: Nikitha Sattiraju in New York at nsattiraju@bloomberg.net
To contact the editors responsible for this story: Molly Schuetz at mschuetz9@bloomberg.net, Giles Turner
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