SG co-living operator nets $400k in pre-seed money

Singapore-based Casa Mia Coliving has raised US$400,000 in pre-seed funding from angel investors in Singapore, Italy, Qatar, and the US.

Photo credit: Casa Mia Coliving

Casa Mia provides private bedrooms in ready-to-move shared homes in Singapore. It focuses on young professionals who want to save money and energy while finding and moving into a new house.

The startup was founded in 2019 by Ahmed Shaariq Nizar, a former entrepreneur at Antler, and Eugenio Ferrante, ex-Acronis chief of staff.

Casa Mia said it grew 10% every month in 2021 and had an average occupancy rate of 91% across its properties in Singapore. The company plans to double its room count to 300 by early next year and expand its footprint in the city-state’s River Valley. It plans to add more neighborhoods to its offerings soon.

The company said it is “on track” to raise more money via seed funding shortly.

See also: Inside the co-living startups changing the way Singapore’s millennials live