Germany-based Homeday closes ?20m financing round

Germany-based online real estate agent Homeday has closed a ?20m financing round.

Investors to the round include Project A, Axel Springer and Purplebricks in a mix of equity and debt. Through this new capital injection, the company will look to further scale its business model, which includes hiring more staff, boosting marketing efforts and increase product development.

Founded in 2015, is an online real estate agent which helps consumers to buy and sell property across Germany.

It works by a seller arranging a free evaluation and following this, the Homeday broker will use the company valuation technology to identify the best price. If the seller is happy with the price Homeday will take control of the selling process including listing and viewings, until a buyer is found.

Through the funding round, Homeday hopes to utilise the knowledge and experience of its new investor Purplebricks, which is a fellow online real estate platform.

Founded in 2014, Purplebricks is an online platform to support the buying, selling and letting of properties across the UK and Australia. The company provides users with an end-to-end platform to make the real estate process more convenient, transparent and cost effective.

The company closed its own investment round earlier this year, bagging $177m from Axel Springer SE to support its move into the US market.

There have been a number of German FinTech companies to close funding rounds this month. Earlier this week, business bank account provider Penta collected ?7m in an investment round to support the expansion of its team, while real estate data platform EVANA collected a single-digit million Euro investment last week.

Copyright ? 2018 FinTech Global

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