London proptech startup secures €72M in funding

November 11, 2019
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On average, its professional investors that turn towards residential real estate because it boasts a risk-adjusted returns profile, but offering the capital at scale is where the challenge comes in.

It is said that the acquisition of single units accounts for 94% of all residential real estate transactions. So, to make it simple for real estate professionals, UK-based IMMO has developed a technology to source, appraise, and acquire single units at scale. This opens up a single unit residential real estate as a new asset class for investors.

Founded in 2017 by Hans-Christian Zappel and Avinav Nigam, IMMO digitally sources, appraises and acquires properties that are located centrally at scale on behalf of institutional investors. These properties are upgraded and turned into fully-finished living-as-a-service homes that target the long-term rental market.

Secures €72M funding

IMMO just announced that it has closed a funding round of €72 million including €11.5 million in equity from investors including Talis Capital, HV Holtzbrinck Ventures, Tom Stafford and Rahul Mehta of DST Global, Mato Peric, and others. The company is finalizing second funding round with value-added investors. Notably, it raised €60 million capital from real estate investors.

The latest funding round marks a key milestone for the London-based proptech startup, which has gained €35 million in properties since September 2017, which marks its first market launch. The company aims to accelerate growth with the latest round of funding.

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