Selina is a technology company.
Selina has raised $95.0M across 1 funding round.
Key people at Selina.
Selina has raised $95.0M in total across 1 funding round.
Key people at Selina.
Selina has raised $95.0M in total across 1 funding round.
Selina is a hospitality and co-living brand targeting millennial and Gen Z travelers, offering accommodations blended with coworking spaces, recreation, wellness, and local experiences in revamped buildings across urban and remote locations.[3] Founded in 2014 and headquartered in London, it positioned itself at the intersection of travel, remote work, and digital nomadism, expanding to over 150 properties in 25 countries while employing 3,000+ people; however, it faced financial collapse by entering administration due to insolvency after failing to pay interest on loans, following heavy fundraising and a 2022 SPAC listing that raised $1.2 billion, much of which was depleted.[1][2][3]
The company serves nomadic travelers seeking "stay, play, and work from anywhere" options, solving the problem of combining affordable lodging with productivity tools like dedicated workspaces and tech-enabled booking platforms.[1][3] Despite early growth riding remote work trends, its aggressive scaling in real estate-heavy hospitality led to consistent operating losses, culminating in ceding control to administrators.[1]
Selina was founded in 2014, starting in Central and South America before expanding to Europe (Portugal, Greece, UK, Austria), the Middle East (Israel), North America (US), and Australia.[1][2][3] It emerged amid rising digital nomadism, designing properties with local artists to breathe new life into existing buildings while integrating coworking—a novel blend for the hospitality sector.[3]
Key pivots included acquiring Remote Year in 2020 to bolster its remote work focus amid COVID challenges, and going public via SPAC in 2022, raising $1.2 billion after securing over $500 million in prior funding.[1] Early traction came from millennial appeal, earning Forbes' "Digital Nomad Hotel of the Future" billing, but financial red flags persisted as it chased tech-like growth in a conservative industry.[1]
Selina rode the explosive growth of digital nomadism and remote work post-2020, capitalizing on trends like flexible lifestyles and blurred work-travel boundaries amid COVID shifts.[1] Its timing aligned with venture hype around "tech-enabled" hospitality, raising hundreds of millions despite the sector's real estate risks, influencing how startups approached scaling lifestyle brands via SPACs and apps.[1]
Market forces like surging tourism recovery and nomad visas favored it initially, but overleveraging (e.g., debt to bodies like the Inter-American Development Bank) exposed vulnerabilities in applying high-growth tech models to asset-light, operationally intensive hospitality.[1] It highlighted ecosystem risks: over $500 million raised nearly vanished, underscoring investor caution in travel-tech hybrids and prompting scrutiny of digital nomadism's sustainability amid economic pressures.[1]
Selina's insolvency marks a cautionary tale of overexpansion in nomad hospitality, with administrators now controlling its fate amid massive debt—recovery hinges on restructuring or asset sales.[1] Emerging trends like sustained remote work, AI-driven travel personalization, and economic volatility could revive leaner versions, but competition from platforms like Airbnb and WeWork remnants challenges it.
Its influence may evolve toward fragmented properties or brand licensing, tying back to its origins: a visionary nomad hub that scaled too fast, reminding the ecosystem that tech flair alone doesn't conquer real estate realities.[1]
Selina has raised $95.0M across 1 funding round. Most recently, it raised $95.0M Series B in April 2018.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Apr 1, 2018 | $95.0M Series B |
