Proptech startup kodehyve has just secured €2.6 million in its mission to digitise the real estate industry, bringing it up to speed for the digital era. The Luxembourg-based team will use the funds to fuel product development and scale.
While digital transformation has firmly taken over processes and strategies across industries, the real estate sector has been left a little behind – often still relying on inefficient and outdated processes.
Founded by entrepreneur Felix Hemmerling and software engineer Julien Casse, both coming from the RegTech and Fintech sectors, kodehyve is a PropTech venture focusing on property developers’ digital transformation, implementing Fintech and RegTech technologies in the real estate world.
The startup has just raised €2.6 million to use this digital know-how to build a more collaborative and tech-enabled real estate ecosystem.
Launched in 2020, kodehyve has just secured an additional €2.6 million in private equity financing led by their existing and new investors. It brings the total raised to €3.6 million.
Following this round, the board of managers has been enlarged from 2 to 5 board observers including Michel Lempicki (previously CEO at StatPro acquired by Confluence in 2019), Marc Thill and Pit Reinert, experienced entrepreneurs, administrators and investors appointed to strategically advise the founders on their mission to scale kodehyve internationally.
Founding investors continue to serve the board: Laurent Schonckert (CEO at Cactus) as non-executive director and John Li (previously Chairman and MD at KPMG) as board observer.
Felix Hemmerling, CEO at kodehvyve: “To maintain our current momentum, we will ramp up our product development efforts to further develop and automate advanced property development processes. Our current focus lies on compliance aspects, namely through automated KYC and AML processes, as well as business intelligence modules that leverage data to support property developers’ informed decision making. Simultaneously, our team at kodehyve is working on scaling our infrastructure and stand-alone services. We are striving to automate as many of the many property development processes as possible to help unlock time and efficiency and quality gains.”
Kodehyve has built a property development operating system (or ERP) providing an end-to-end solution to the real estate ecosystem as a whole. The OS powers property developers and their collaborators to plan, manage, commercialize and analyze their new construction projects more efficiently all while providing a seamless user experience to all stakeholders involved, ensuring full compliance with applicable regulations and leveraging data.
It essentially pulls data from scattered sources ad [professionals into one powerful platform. This empowers property developers and their stakeholders to more efficiently structure their project management, customer lifecycle management, compliance and business intelligence activities, hence helping them win in quality, efficiency and profitability.
Whilst the real estate sector has been lagging behind in terms of recent innovations have focused on helping property developers on an individual basis. But kodehyve aims to impact the real estate ecosystem as a whole.
Addressing collaboration and transparency across the industry by connecting all stakeholders, including real estate funds, construction companies as well as architects, engineers, Government bodies and investors, kodehyve aims to target the market as a whole and differentiate itself from existing market players.
This new capital injection will be used to fuel future product development as well as scale business development activities. Regarding product development, kodehyve plans to focus on its flagship and eponymous platform: kodehyve OS. In the past year, kodehyve OS has become a complete operating system dedicated to property development, not only including customer lifecycle management and project management, but also financial management, business intelligence and compliance modules. That way, the solution solves the majority of use cases occurring in the industry.
On the business development side, the venture plans to scale its activities to onboard more customers and support international growth. kodehyve aims to expand internationally and targets dynamic real estate markets such as Portugal, Switzerland and the UK, amongst other
These growth plans come after a busy period for the startup, which has seen the team grow 5x since its last fundraise. During this time, the team reinforced its data and engineering team to support product development and created a first growth team with business development, marketing and customer success roles to reinforce and support the company’s growth. This is in addition to launching a new standalone e-signature platform dedicated to all kinds of real estate professionals: kodehvye sign.