A startup with Ukrainian roots plans to buy WeWork, which was once valued at $47B.

Rentberry, a Ukrainian-founded startup developing a long-term housing rental platform, plans to buy the bankrupt company WeWork for $550-650M. The buyer will not assume any debt obligations as part of the deal. The company plans to use its own capital and financing from partner venture capital funds to purchase the asset.

Rentberry is a platform for long-term housing rental that brings all processes online, including viewing an apartment, signing contracts, and accepting monthly payments. The company’s unique feature is potential tenants who are on-site can make bids for an apartment, turning the rental process into an auction.

Rentberry raised 60% of the $27M investment on crowdfunding platforms. Now, the company is preparing for a new crowdfunding round of $30M with a valuation of $100M.

WeWork is an American network of co-working spaces, which, as of the end of June last year, had 777 offices in 39 countries. Once valued at $47B, the company filed for bankruptcy protection last November.