20 October 2020 – Flatio, the European long-term property rental platform, has acquired NomadX, a property marketplace targeting the increasing group of digital nomads, to expand its footprint in Portugal.
According to a statement by Flatio, “the operation will give Portuguese [property] owners access to a rapidly growing target audience: remote workers who travel during extended periods, digital nomads, professionals and students, while supporting local tenants, who represent 20% of Flatio’s market.”
Flatio’s acquisition will allow the firm to centralise both companies’ real estate listings, management and transactions on Flatio’s technology platform. The NomadX housing market as a subset of the existing Flatio operation, thereby expanding both firms’ footprints in the country.
Original Story: Economia Online – Mariana de Araújo Barbosa
Translation/Summary: Richard D. Turner