Backing the round is Talis Capital and HV Holtzbrinck Ventures, with participation from Tom Stafford and Rahul Mehta of DST Global, and Mato Peric, among others. In addition, the company is disclosing that it has raised more than €60 million in real estate “buyer capital.”
It will use the buyer capital to fund the acquisition of properties — targeting private individuals who want to sell their property quickly. It then refurbishes these properties and puts them on the rental market as part of a fully managed package, therefore returning a predictable yield to investors.
Immo says it has already evaluated more than 10,000 for-sale apartments in the launch city of Hamburg. It claims its technology can accurately predict property sales prices, as well as current and future rental income prices.
“Immo buys residential properties directly from consumers on behalf of professional investors, thereby helping consumers sell their home in a fast, reliable, transparent and convenient way and providing investors with desired residential asset exposure at scale.
“Immo tenants enjoy a well invested, fully furnished long-term rental product and a highly standardised and professionally managed lettings experience.”
— Hans-Christian Zappel, Immo Investment Technologies Co-Founder and CEO
As well as serving investors and tenants, Immo is also targeting property owners that want to sell their home quickly, with less hassle, and without the expense of using an estate agent. “With Immo, consumers go through one viewing, receive an offer within 24 hours and then sell to us without any agency fees and free of worries about financing risks or changing minds,” says Zappel.
The ability to transact “fast and confidently” is based on the company’s data and tech-driven approach to understanding markets and assets, says the Immo Co-Founder. “We replace instinct and gut-based valuations with data; we call this the ‘Immo Intelligence,’” he adds.
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