Estonian proptech Moderan snaps up €270K for its property management software

Today Tallinn-based startup Moderan, a lease and commercial property management software, has snapped up €270K funding to expand its solutions to German-speaking markets, the Czech Republic, and Russia. A significant part of the investment was made by the real estate company Zenith Family Office, and their investors, as well as the Lemonade Stand fund.

Founded in 2015, Moderan aims to help commercial real estate owners go digital, and professionally manage their commercial real estate and tenant relations. Its lease lifecycle management and asset reporting tool helps owners optimise their organisation, save time and money, and increases the value of their holdings. So far the startup has both Baltic and German companies onside, such as Rotermann City, Lumi Capital, New Hanza Capital, Workland, YIT, among others, and is seeing the crisis as an opportunity for expansion.

“The clear value of today’s crisis has been the transfer of sales into digital channels. Even in markets as complex as Germany, the attitude of customers has changed overnight. All the meetings that we planned to have in Berlin then simply happened via video calls. There was a clear breakthrough on the German market, and several new customers joined us in a short time,” said Kristi Hakkaja, CEO and founder of Moderan. 

Moderan’s solution provides a comprehensive overview of the entire real estate portfolio: assets, spaces, contracts, deadlines and terms. Additionally, a new feature was added for the automated calculation of incidental costs at the beginning of 2020, which is one of the most time-consuming and complex processes in the real estate business. The company’s experience shows that, when starting to use Moderan, even the most experienced Excel fans discover several errors they’ve made, not to mention potential losses up to the amount of tens of thousands in the case of major mistakes.

Today, Moderan manages more than 350 buildings and assets worth more than a billion euros. Moderan is best suited for owners of commercial real estate or a mixed portfolio, managing high-value assets, such as business campuses, shopping malls, and technology parks. 

“Moderan has a clear opportunity to become a leader in the commercial real estate market. Kristi and her team have a strong background in the field with previous business experience, and they have maintained a steady growth over time. In addition, they have worked very cost-effectively, setting Moderan as a good example for many other companies,” said Siim Teller, the Managing Partner at Lemonade Stand.

Previously, the German business accelerator blackprint Booster, the Finnish venture capital fund Gorilla Capital, and the Estonian venture capital fund Thorgate Ventures have invested into Moderan, as well as a number of real estate angel investors.

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