Proptech startup Proper has just raised an additional €3 million in new funding. The Copenhagen-based team is aiming to transform the way we live, facilitating greater harmony between landlords and tenants.
Property management, whilst not frequently hitting the headlines, often lacking trending buzzwords of sustainability and impact, does have an immense impact on the lives of people across Europe. From managing relations between landlords and renters to enhancing the process of becoming homeowners, property tech influences everyday interactions.
Property management, despite influencing everyday processes and relationships, has been lagging behind in digital transformation. It’s a space that is still reliant on manual processes and out-of-date IT solutions.
Proper, a proptech startup from Denmark, is aiming to change this, aiming to better connect landlords and tenants to improve experiences and relationships. The startup has picked up fresh investment and is ready to scale across the continent.
- €3 million round led by investor 14Peaks Capital and ALFA Ventures
- This brings the total raised to date to €7.3 million
- Existing investors byFounders and Preseed Ventures also participated
- Angel investors include s Kim Baroudy (McKinsey), Christian Shin (EQT), Mads Ditlevsen (EQT), Nikolaj Kromann (Trackman) and others
Rethinking property rental market
Founded in 2017 by Morten Krarup and Jacob Funch, Proper is on a mission to rethink the long-term property rental industry by facilitating better experiences for both landlords and tenants.
Proper’s CEO, Morten Krarup: “Property management is probably one of the last industries to be digitized. In almost the entire European market we see landlords handling their processes manually or using IT solutions that were developed in the 90s. Our product automates the day-to-day tasks of landlords. A disruption the industry truly needs.”
The software platform automates and handles all of the administrative aspects associated with property management. This includes rent collection and reconciliation, rent adjustments, accounting, contracts and much more. This makes it more efficient for property owners and gives tenants more protection and transparency.
Currently, the startup is operating in the Danish and Dutch markets, the platform is being used to manage +9,000 rental properties for close to 1,000 customers. It will launch in Germany in the first quarter of 2023.
By the end of 2023, Proper expects to have more than doubled the number of leases managed through its platform across international markets, making Proper a leading software solution for property managers in the European market.
CEO of ALFA Ventures, Anders Dalskov: “Proper’s digital solution has the potential to significantly streamline the long-term rental market. They use modern technological solutions that are already widely used in other industries but are completely new in the real estate sector. Their platform can be scaled across European markets, making Proper’s potential huge. Proper puts the user and the people first, which is exactly what the real estate industry needs.”