Greece-based Protio has raised €2 million in funding for its apartment investment platform to boost the real estate industry in Greece and beyond. Led by Neogen Capital, the pre-seed round saw the participation of international and Greek investment funds. Lars Rasmussen, angel investor and co-founder of Google Maps and Genesis Ventures and Seedblink, the crowd investing platform also participated in the round together with twenty more angel investors, from Greece, Germany, Switzerland and India.
In today’s times where we are all racing towards a net-zero world, turning old homes into energy-sustainable apartments with a minimal CO2 footprint introduces a new type of sustainable development.
Founded in 2021, the proptech platform’s ‘Rebuild-To-Rent’ model addresses the housing crisis prevailing in Europe. Protio is upgrading old apartments, using advanced technologies to renovate and make them energy efficient.
The firm claims that property owners can offer their apartments for sale and receive an offer from Protio within just 24 hours. At the same time, individuals also get to invest in apartments and secure a new income, in a transparent, hassle-free and digital-first way. Apartments available on Protio are off-market and exclusively accessible through the platform. After completing the rental agreement, Protio manages the apartment, guaranteeing the investor's income for the first year. The platform also offers real estate agents a new channel to make more home transactions.
The startup has first made inroads in Athens and plans to expand to other cities now.
Antonios Fiorakis, CEO of Protio said: “The problem we aspire to solve through Protio affects the lives of millions of people every day. Through this new venture, we want to help local communities, while also contributing to the urban regeneration of our cities.”
Calin Fusu, partner at Neogen Capital added: “This venture has a socio-economic footprint and is so promising for the future of Athens and our cities around the world. Protio is our first investment in Greece and we are pleased to meet such a strong team that will offer an absolutely new future for the real estate industry.”