Property News > Acquisition of NomadX sparks major UK expansion plans for Flatio

Acquisition of NomadX sparks major UK expansion plans for Flatio

Digital nomad housing marketplace NomadX has been purchased by letting platform Flatio in a move worth £3.6m. 

The Czech-based proptech company, which turned over some £4.5m in the last financial year, will take on NomadX’s inventory of apartments, staff and social platform as part of the deal. 

It also plans to have at least 10,000 UK property listings on its inventory in the next 3-5 years.

Radim Rezek, chief executive of Flatio, said: “We noticed a lot of interest from the UK during the pandemic.

“It seems that a combination of uncertainty and more remote working opportunities is creating a boom in the mid-term rental sector.

“We only have 150 listings in the UK at the moment but plan to ramp this up significantly in the next three to five years as we believe the demand for affordable mid-term lets will continue to grow in the UK and globally post-pandemic.”

Meanwhile, after a transition period lasting several weeks, the deal will eventually see all property listings, management and transactions centralised on Flatio’s technology platform. 

Flatio currently boasts some 9,000 listings spanning 17 countries and 60 cities, while NomadX has 1,700 in Portugal alone.

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