Israeli-Founded Hospitality Startup Selina Raises $100M

Selina, a hospitality service launched by Israeli entrepreneurs Rafael Museri and Daniel Rudasevski, announced that it raised $100 million in a Series C financing round on Wednesday, bringing the company’s total financing to $225 million to date.

The financing round was led by Access Industries, with participation from Grupo Wiese and existing investors Colony Latam Partners. Selina raised $95 million last year with investors including the Dubai investment firm Abraaj Group, and fellow Israeli Adam Neumann, the co-founder and CEO of coworking space giant WeWork.

Founded in 2012, Selina combines affordable accommodation, co-working spaces, fine dining, wellness, volunteering initiatives, entertainment, travel and adventure in 46 locations in 13 countries in Latin America, Central America, and the Caribbean.

Selina said it plans to open an additional 35 properties in the US, the UK, Germany, Portugal, Greece, Israel, as well as in Argentina, Brazil and Mexico, in tandem with expansion into new European and Latin American markets and an entrance into Asia by 2020.

“We’ll be leveraging this financing to expand our corporate platform and secure more of the most creative talent in the industry,” said Selina co-founder and CEO Rafael Museri. “We’ll continue to invest in our technology innovation team in Tel Aviv as we explore digitally-driven ways to disrupt the hospitality industry, enhance the complete booking and user experience for travelers, and continue rapid expansion into new markets across the globe.”

“As we’ve seen across a number of industries from co-working to ridesharing, millennials and Gen Z are redefining how they want to live, work and explore the world,” said Museri. “The ambitious and adventurous nature of these generations prove that there is a demand for our experiential hospitality model today and for years to come.”

For more on Selina’s story, see here.