Berlin-based proptech Seniovo receives €2 million in a Series A financing round led by PropTech1 Ventures and IBB Beteiligungsgesellschaft. The startup, which helps people in need of care with age-appropriate and barrier-free reconstruction of their apartments and houses, will use the capital for further growth and digitalisation of its processes.
Today, almost a billion people worldwide are 60 years and older, while this number is expected to reach 2 billion by 2050. About 50 percent of these people will need some type of long-term care, while wishing to remain in their flats and houses. Seniovo wants to be the one-stop contact for them to go to. The startup digitalises the entire application and reconstruction process right through to implementation of the measures on site with its own craftsmen or the procurement of certified partners. And by applying for subsidies for people in need of long-term care with a 95 percent success rate, Seniovo reached a situation when in many cases, its clients do not have to make any additional private payment.
Seniovo, which claims to already have an annual revenue growth of over 250 percent, plans to continue its path of growth with the use of the investment money.
"We want to enter new geographical regions as well as launch new products, using the freshly raised growth capital. Above all, further digitalisation of our processes and expanding our B2B business will increase our growth trajectory and efficiency,“ said Jonathan Kohl, CEO and founder of Seniovo.