London based IMMO Investment Technologies, the fintech firm which buys properties on behalf of professional investors has secured €11 million as part of Series A round funding. Talis Capital and HV Holtzbrinck Ventures led the latest financing with participation from Tom Stafford and Rahul Mehta of DST Global, and Mato Peric.
Founded in 2017 by Avinav Nigam, Hans-Christian Zappel and Samantha Kempe, Immo Investment Technologies will use the freshly raised funds to acquire properties from private individuals who want to sell their property quickly. Once it gets access to the property, the firm refurbishes the entire property and then puts them on sale on rental markets.
Zappel, the CEO and founder of the firm talking about the company said, “Selling a property is the biggest and often most stressful transaction in our lives. It takes on average 191 viewings and many months to identify a buyer. About 40% of transactions still fall through at that point due to financing risk, changing circumstances and minds. When selling to IMMO, customers enjoy a chain-free, professional experience that is fast, reliable, transparent and convenient. We offer attractive prices without charging fees and enable home sellers to plan their lives around this important transaction.”
Talis managing partner Vasile Foca commenting on the funding in the firm said, “The IMMO team has impressed us with their vision and track record in building technology companies. IMMO is uniquely placed to revolutionize residential real estate by connecting consumer supply with institutional demand. They are solving major pain points for sellers and tenants and poised to build a mega brand. IMMO’s data-led ability to unearth and secure properties at scale in a streamlined way using technology has, for the first time, unlocked the opportunity for institutional capital to be deployed in this asset class. We are excited to join the IMMO team on this next chapter of growth.”
The firm claims to have managed more than 6,000 property leads using the platform which is powered by machine learning technology. It will be interesting to see how the firm utilizes the funding from this round.
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