The combined platform will bring together Badi's digital marketplace and tenant‑acquisition technology with Caterina House's building operations and institutional relationships. The businesses report approximately €250 million in assets under management and plan to focus expansion on Madrid, Barcelona and Valencia.

The merged group is targeting more than 7,000 operational units within four years, while Badi contributes five million registered users and around 350,000 monthly active users. Proceeds from the capital increase are intended to support technology development, the onboarding of institutional clients and assets, and expansion of the operating team.

Strategic context

For Badi, the merger broadens the business from a digital shared-living marketplace into an integrated flex‑living platform with direct operating capabilities.

For Caterina House and its majority shareholder, Meridia, it adds a scaled tenant‑acquisition channel and supports an asset-light route to managing more institutional residential stock.

The capital increase gives the combined company funding to accelerate growth in Spain's three deepest urban markets. More broadly, the transaction points to continued consolidation and institutionalisation in the Spanish flex‑living sector.

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