IMMO Investment Technologies has collected €72m in funding round, with additional capital set to be raised in the near future.
Investors including Talis Capital, HV Holtzbrinck Ventures, DST Global’ Tom Stafford and Rahul Mehta and Mato Peric, amongst others, committed a combined €11.5m to the round.
The remaining €60m was raised by real estate investors for the deployment on to its residential platform.
IMMO stated that it is currently finalising a second round closing with value-add investors.
The PropTech platform digitally sources, appraises and acquires centrally located properties on the behalf of institutional investors. These properties are then improved and fully-furnished and placed into the rental market.
Since the platform launched in September 2018, the company has sourced €35m in properties, it claims.
IMMO COO and co-founder Avinav Nigam said, “Fundamentally, IMMO’s Consumer-To-Business (C2B) model is backed by the more resilient rental market as investors’ willingness to pay is based on the asset’s ability to earn a rental return, effectively making our model ‘weatherproof’.
“The traditional iBuyer Consumer-to-Consumer (C2C) model relies on liquidity in the sales market, that dries up during economic uncertainty. Furthermore, IMMO operates a “balance-sheet light” model – we do not buy properties on our books, and hence don’t take capital risk. By comparison, traditional iBuyers have full capital risk exposure.”
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