The round marks the biggest B-series in European Proptech history.
New YorkOak HC/FT, a venture and growth fund, led the round alongside Moore Specialty Credit and existing investors FinTech Collective and Talis Capital.
IMMO has raised over $2.5 billion capital commitments from leading institutional investors, such as pension funds and insurance companies, to deploy in single-family rental housing in Europe.
The company uses technology to buy and manage large-scale single-family homes, professionalizing the $50 billion market for European residential investment.
LONDON, April 12, 2022 /PRNewswire/ — REAL ESTATEthe technology-driven residential investment platform that is revolutionizing the way people can sell, rent and invest in single-family rental (SFR) housing, has closed a $75 million Series B equity financing. The round was led by Oak HC/FTa US-based venture capital and growth fund that invests in healthcare and fintech, alongside Moore Specialized Credit and existing investors FinTech Collective and Capital of Talis. The company will use the capital to accelerate its expansion through Europe and buy 10,000 homes supported by $2.5 billion commitments from leading institutional investors.
IMMO uses a technology-driven and data-driven approach to create a scalable residential exposure for ethically conscious investors, offering an ecosystem solution from sourcing and acquisition to rentals and property management. IMMO’s technology analyzes more than 6 billion euros of properties per month to identify investment opportunities. The IMMO team then physically inspects the selected homes collecting over 300 data points using the company’s proprietary inspection app in order to place an offer. After purchase, IMMO transforms properties into beautiful, modernized homes that are offered to residents through their “living-as-a-service” rental platform at affordable prices and 52% less carbon footprint than a complete redevelopment .
“Now is the time to unlock and professionalize the European residential category. Residents deserve a better rental product that is more convenient, affordable and environmentally friendly. Responsibility-minded institutions, on the other hand, need the scalable, low-risk investment exposure that single unit residential assets have to offer. We deliver the future of residential investing through our platform, as well as what the future of living will be. Redefining what residents can expect from their homes is a great responsibility and at the same time an incredible opportunity,” mentioned Hans Christian ZappelCEO and co-founder of IMMO. “We are extremely excited to partner with Oak HC/FT. Oak’s experience in supporting companies that are opening up new asset classes, coupled with their willingness to dive deep into our business to support them through operational level, makes it clear why they are one of the leading fintech growth investors in the world. We have an incredible set of investors behind us and we are grateful for their support.”
After experiencing 1,200% growth over the past 6 months, IMMO has now partnered with some of the world’s largest investment managers to invest in SFR across many European markets. In addition to accelerating the company’s geographic expansion within its offices in London, Hamburg, Cologne, Berlin, Madridand delhithis funding will fuel the growth of IMMO’s technology and operations through investments in talent acquisition in all offices worldwide.
“IMMO is a growth-stage company that has become synonymous with SFR’s investments in Europe: one of the most demanded and undersupplied asset classes. IMMO is leading the unlocking of this new asset class and setting the standard for data-driven portfolio aggregation in Europe“, mentioned Dan PetrozzoPartner at Oak HC/FT. “We are always looking to partner with disruptive businesses that fill white spaces and positively impact the communities they serve, and IMMO is the perfect fit. We are excited to support the business as it grows into new markets and building an iconic brand in residential living.”
Notes to editors:
IMMO is Europe first technology platform for residential real estate investment designed to create quality portfolios from existing single-family rental assets (SFR) at scale and quickly.
The company has developed a unique capability in the form of an end-to-end service solution, offering investor clients everything from sourcing, acquisition and portfolio management to leasing and property management, to boost performance and maximize returns.
Powered by technology, managed by experts, the platform sources, underwrites and structures SFR’s assets into large portfolios for investors, resulting in stabilized rental income, capital appreciation and best-in-class property management. IMMO is active in 10 large German markets (Hamburg, CologneDüsseldorf, Bonn, Hanover etc.) as well as Spain markets (Madrid), Great Britain (London), and has a growing team in India.
IMMO was awarded “Tech Pioneer” by the World Economic Forum and was titled “Real estate asset manager of the future” by Goldman Sachs. The company was co-founded in 2017 by CEO Hans Christian Zappel which was recognized on the Forbes 30 under 30 list, along with its CIO Samantha Kempe (Blackstone, PwC) and COO Avinav Nigam (waltz disney, Procter & Gamble). The IMMO team is 120 strong with offices in the UK, Spain, Germany and India.
About Oak HC/FT
Oak HC/FT is a venture capital and growth capital firm that invests in companies that are driving the transformation of healthcare and fintech, two particularly complementary and high-growth sectors. With deep domain expertise and strategic resources, Oak HC/FT partners with leading entrepreneurs at every stage, from seed to growth, to build businesses that have measurable and lasting impact in these industries. . Founded in 2014, the company has $3.3 billion of assets under management and is headquartered in Greenwich, Connecticutwith investors in San Francisco and Boston. Follow Oak HC/FT on Twitter and LinkedIn and learn more about www.oakhcft.com.
About Talis Capital
Founded in 2009, Talis is a Londonbased venture capital firm, backing visionary seed and Series A founders in the US and Europe. Investing on behalf of an interdisciplinary community of entrepreneurs who have built billion-dollar companies, Talis is uniquely positioned to add value across the entire entrepreneurial journey, supporting founders who see the future differently. at every stage of their business life cycle. Darktrace (LSE), Onfido, Ynsect, Garten, Luminance, iwoca, Plum Guide and Pirate.com are part of Talis’ portfolio of over 55 companies. For more information, see www.taliscapital.com.
About FinTech Collective
FinTech Collective (www.fintech.io) is an SEC-registered investment adviser and global venture capital firm focused on tech startups with the potential to reinvent financial services. Founded in 2012, the firm has extensive investment experience in capital markets, wealth management, banking, lending, payments, insurance and digital assets. The managing partners of FinTech Collective met in their mid-twenties and helped create, scale and sell four fintech companies generating more than $1.5 billion shareholder value.
Backed by some of the world’s leading institutional investors, FinTech Collective has already invested in over 60 portfolio companies across traditional fintech and DeFi. Notable investments include Anyfin (stockholm), Axoni (NYC), Centrifuge (Berlin), Flutterwave (Lagos), IMMO Capital (London), Less (Mexico City), MoneyLion (NYC), NYDIG (NYC), Ocrolus (NYC), Quovo (NYC, acquired by Plaid), Rainbow Wallet (NYC), UMA (distributed), Vestwell (NYC) and Willa (stockholm / THE).
FinTech Collective publishes a weekly newsletter, with over 16,000 subscribers in over 420 issues since 2014. Sign up here: https://www.fintech.io/newsletter
For more information please contact:
Europe: Ellie CrockerTalis Capital: [email protected], +44799 463008
WE: Amalia LytleProsek Partners: [email protected]
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