With the threat of a real estate price bubble, that might burst anytime, realty valuation is currently in greater demand than ever before. Betting big on the sector, Munich-based proptech einwert has raised €2 million in pre-seed round to further boost real estate appraisals based on ESG (Environmental, Social & Governance) insights.
Leading the round was 468 Capital along with Wecken & Cie, Auxxo Female Catalyst Fund and infinitas capital. Oliver Manojlovic, VP of sales at Personio and Stephan Rohr, founder of TWAICE, also supported the funding.
In total, institutional real estate investors spend several billion euros a year on commissioning valuation reports in Europe alone. Invariably, that amount is spent on data analytics and ESG. Real estate companies must have their buildings valued annually by certified appraisers which takes weeks.
einwert founder and CEO Christina Mauer said: “Due to the manual processing, appraisals sometimes take up to six weeks and cause a lot of coordination work for customers. Further use of the valuable content and data from the appraisals has been difficult to-date, due to the analog format.”
einwert founder and CTO Maximilian Schlachter added: “By replacing manual work with intelligent parameter determination, we enable our appraisers to value more intelligently and deliver comprehensible valuations and sustainable findings with shorter turnaround times.”
According to the company, it creates appraisals in just days by using software to facilitate and largely take over the process. Customers place and manage the order via einwert's cloud-based platform or immediate system interfaces. The startup draws on a network of certified appraisers who inspect properties and value them using the intelligent software, which provides comprehensible suggestions on important variables for determining value and standardizes the structure of appraisals.
Bernhard Janke, partner at 468 Capital concluded: “Through einwert's software-enabled service approach, institutional real estate investors will gain transparency on relevant market parameters even faster and thus be able to make smarter, future-oriented decisions.”