Berlin-based proptech startup Home has raised an €11 million Series A round from Capnamic, the EQT Ventures fund, FJ Labs and Redalpine. This latest round of investment will be used to increase product innovation, as well as drive the expansion of Home’s offering into new cities.
Anyone who has either rented a home or been a landlord knows that it can be time-consuming, stressful and complicated for everyone involved. For owners, there is the barrier of having to become an expert in many different areas – from what rent to charge to understanding legislative changes. For tenants, there is often a lack of transparency and poor customer experience.
Home, founded in 2016, aims to make housing better for both tenants and landlords. Home takes on the role of the tenant and the landlord at the same time and can thus be the ideal tenant to landlords and the ideal landlord to tenants. Using data-based evaluations, Home then finds the ideal tenants for the apartments. Owners sign a contract in the Home app in under 30 minutes and, from then on, simply receive their rent. For tenants, they simply use Home’s app and digital locks to view and move into apartments.
After its successful start in Berlin and expansion to Munich and Hamburg, Home will be active in ten German cities and will have launched its first international market by the end of 2020. Home has raised more than €14 million from EQT Ventures, Redalpine, Capnamic, FJ Labs, VitoOne and Tim Schumacher.
Jörg Binnenbrücker, Managing Partner at Capnamic, said: “When we first met Thilo and Moritz we were impressed by their vision of creating a new asset class and form of ownership. Capnamic is excited to have found the best team to bring this new housing experience to everyone and capture a massive market opportunity”.
Axel Bard Bringéus, Deal Partner and investment advisor at EQT Ventures, said: “The real estate and housing market have barely changed over the last 30 years and the degree of digitization and innovation is, in comparison to other sectors, very low. Home’s Thilo and Moritz are changing this. The team’s unique understanding of this huge market, grand vision and entrepreneurial grit have resulted in impressive traction over the last year and EQT Ventures is looking forward to the next phase of Home’s journey.”
Every month more than 1,100 landlords request an offer from Home. To be able to accept all of these requests, the company will expand into new cities – nationally and internationally – throughout 2020.