Kodit.io bags €1.7m to support its European expansion

AI-powered real estate platform Kodit.io has received €1.7m in its Seed round, to support its expansion across Europe.

The round was led by Speedinvest x and Schibsted, a Norwegian international media group. Additional capital was supplied to the round by Icebreaker.vc.

Kodit.io uses AI technology to provide homeowners with accurate property evaluations and cash offers, without the need of renovations or public showings.

It works by a seller entering information about the property, which will then be used to create an estimate of the valuation. An expert will visit the property to assess the property’s condition, and following this, the seller will be made an offer.

The seller can decide to accept the deal instantly, or utilise a Kodit.io agent to find a better value within eight weeks – the seller can accept the initial offer at any point during this period.

Over the past eight months, the platform has helped more than 80 properties be purchased. The service is currently available across seven cities in Finland and Estonia.

Capital from the round will be used to expand its platform across Europe, with the launch of its services in a number of cities across Southern and Eastern Europe.

Kodit.io founder Kalle Salmi said, “During the past eight months, we have seen how significantly our technology and close co-operation with real estate investors, realtors and listing portals improves the home selling and buying process. After more than one hundred customers in Finland and Estonia, we are super excited to have Speedinvest x, Icebreaker and Schibsted on board to support our growth in Europe.”

Earlier in the year, Speedinvest led the €10m funding round of pan-European payment institution Lemon Way.

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