Posted on November 7, 2019 by staff

Real estate FinTech firm IMMO raises €72m


Real estate FinTech platform IMMO Investment Technologies has secured a funding round totalling €72m.

The funding includes €11.5m in equity in a Series A round from investors Talis Capital and HV Holtzbrinck Ventures, Tom Stafford & Rahul Mehta of DST Global, and tech investor Mato Peric.

Founded in 2017 by Hans-Christian Zappel, Samantha Kempe and Avinav Nigam, firm digitally finds, appraises and acquires centrally located properties at scale, on behalf of institutional investors.

After acquiring properties, they are upgraded and turned into a fully-furnished homes for the long-term rental market, or “living as a service” market.

With locations in London and Hamburg, Germany, the firm uses machine learning tech to reduce the underwriting process, assessing the property’s value against a range of external data such as crime and traffic.

“Selling a property is the biggest and often most stressful transaction in our lives,” said Zappel.

“It takes on average 19 viewings and many months to identify a buyer. About 40% of transactions still fall through at that point due to financing risk, changing circumstances and minds.

“For our tenants we strive to provide the best rental product and experience in the market. IMMO homes are always modernised to a high standard, beautifully designed and furnished.

“With Talis Capital and HV Holtzbrinck Ventures we are proud to make some of the best venture investors in Europe part of our journey to disrupt residential real estate, the biggest asset class in the world.”

Vasile Foca, managing partner at investor Talis, added: “The IMMO team has impressed us with their vision and track record in building technology companies.

“IMMO is uniquely placed to revolutionise residential real estate by connecting consumer supply with institutional demand. They are solving major pain points for sellers and tenants, and poised to build a mega brand.

“IMMO’s data-led ability to unearth and secure properties at scale in a streamlined way using technology has, for the first time, unlocked the opportunity for institutional capital to be deployed in this asset class. We are excited to join the IMMO team on this next chapter of growth.”