Immo Investment Technologies, a London, UK- and Berlin, Germany-based residential real estate platform, raised €3M in additional Series A financing round.
Backers included FinTech Collective & Surplus Invest, which joined Talis Capital and HV Holtzbrinck Ventures in the round now totalling €14M.
The company also counts Tom Stafford & Rahul Mehta of DST Global and Mato Peric among its early investors.
Founded in 2017 by Hans-Christian Zappel (Davidson Kempner, Forbes 30U30), Samantha Kempe (Blackstone) and Avinav Nigam (P&G, Disney), Immo buys residential properties directly from consumers on behalf of professional investors, thereby providing investors with desired real estate exposure at scale. Homes are fully renovated and often furnished, meaning tenants can enjoy quality, long term rental homes that are professionally managed. The company’s technologies and innovations help simplify real estate transactions via virtual 360 viewings, online credit checks and digital contracts for renters that are relocating thousands of miles.
The company intends to use the funds to accelerate its investments platform to offer up more markets across Europe, and develop the full technology suite from acquisitions to asset management.
In the past year, IMMO has assessed over 10,000 property leads (€3.5Bn) using proprietary machine learning technology, reducing the underwriting process from days to a matter of minutes. IMMO’s inspection team collects close to 300 data-points for every property. The IMMO Intelligence combines this property level data with millions of environmental data-point such as traffic nodes, crime statistics, school/restaurant/airbnb ratings, distance to supermarkets etc. to come up with an offer price for the seller. It is this speed and accuracy that allows IMMO to buy properties at scale directly from sellers.
On top, the company has raised over €60m in real estate capital for deployment through its platform.
FinSMEs
20/08/2020