Badi and Caterina House merge to launch Spain’s largest flex living platform with €250M AUM

Badi and Caterina House have agreed to merge, creating Spain’s largest flex living platform. The transaction integrates co-living, flex living and high-end housing services under one ecosystem. According to the media EjePrime, the combined assets under management total €250 million.

Badi is a proptech company founded in 2015. It operates a digital marketplace for flexible housing in Spain. The platform has 5 million registered users and supports short- and long-term rentals.

Caterina House is a residential operator established in 2010. It manages co-living and high-end housing assets. The company has partnerships with institutional investors and a track record in large building management.

The merger blends Badi’s digital residential brand and large user base with Caterina House’s operational leadership and institutional relationships. The new entity will focus operations in Madrid, Barcelona and Valencia, says the article. Both partners plan to exceed 7,000 operating units within four years.

Badi’s sales portal has 350,000 active monthly users. Its profiles range from students to corporate clients. This traffic will drive demand across multiple Spanish cities and support the platform’s growth.

The transaction, which is still underway, will be accompanied by a capital increase led by Barlon Capital and Meridia , the latter being Caterina’s majority shareholder since 2023. Investment manager Meridia retains ownership of certain Caterina House assets acquired three years ago. Meridia is launching Fund VI to raise €500 million, its largest vehicle to date. The firm manages €1 billion in assets and recently sold a Madrid office building for €6.8 million, according to EjePrime.