Hostel Chain Selina Raises $95 Million, Report Says

Latin American hostel and co-working company Selina Ltd. has raised $95 million from Israel-born WeWork founder Adam Neumann and Dubai-based investor the Abraaj Group, Techcrunch reported Friday.

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Selina operates hostels that combine a hotel, a co-working space, curated tours, wellness and fitness classes, homegrown produce-based meals, and volunteer activities. The company has hostels in many Latin American countries, including Mexico, Panama and Costa Rica.

The company was established in 2014 in Panama by Israel-born Rafael Museri and Daniel Rudasevski, and employs around 1,000 people and has offices in Panama, London, and New York.

In February, Calcalist reported that Selina is planning to open a research and development center in Tel Aviv by the end of 2018, looking to employ 40 developers and software engineers. The company began recruiting for the outpost in March, according to a document the company shared with local recruiters and HR companies, which was reviewed by Calcalist.

“Our goal is to make Selina the technology thought leader in the hospitality, travel and lifestyle ecosystem,” the company said in the document it shared with local recruiters. “You'll be a member of the founding tech team in Israel, where your work will directly and immediately impact our technology roadmap.”