Ukio was founded by two veterans of Knotel and Airbnb, and the company functions in a similar way to the latter. However, it differentiates itself from Airbnb and other rental sites by focusing on the mid-length leases and fashionable locations typically favoured by professional remote workers. The company has benefited from the increasing number of people looking for flexible short term rentals especially in major international hubs.

Having already expanded into Germany and Portugal, it is using recent investments to enter the French and Italian markets, with longer term goals to establish a presence in the UK and Ireland. It is also building a B2B solution for international businesses to allow them to offer accomodation to their remote employees.