The London-based startup IMMO has raised a $75 million funding. The Series B round was led by US-based Oak HC/FT with participation from Moore Speciality Credit and existing investors FinTech Collective and Talis Capital. The funding is expected to accelerate its expansion across Europe.
Offering technology solution for how people can sell, rent and invest in single-family rental (SFR) housing, IMMO uses data driven approach to building scalable residential exposure for investors. Its technology analyses over €6 billion in properties per month to identify investment opportunities.
The team then physically inspects selected homes collecting over 300 data-points using the company’s proprietary inspection app to make an offer. Post-purchase, the platform upcycles the properties into modernised homes that are offered to residents via their ‘living-as-a-service’ rental platform at affordable prices and 52% less carbon footprint than a full redevelopment.
Hans-Christian Zappel, CEO and co-founder, IMMO said: “Residents deserve a better, more convenient, affordable and environmentally sensitive rental product. Responsibly minded institutions need the scalable, low-risk investment exposure that single unit residential assets have to offer. We are delivering the future of residential investing through our platform, as well as what the future of living is going to be.”
Dan Petrozzo, partner, Oak HC/FT added: “We’re always seeking to partner with disruptive companies that fill white spaces and positively impact the communities that they serve, and IMMO is a perfect fit.”