Home, the Berlin-based startup transforming property rental, has raised an €11 million Series A round from Capnamic, EQT Ventures, FJ Labs, and Redalpine.
Home acts as both the tenant and the landlord. The German proptech rents apartments directly from owners, removing the stress and financial risks associated with being a landlord. Owners sign a contract in the Home app in under 30 minutes and, from then on, simply receive their rent. Using data-based evaluations, Home then finds the ideal tenants for the apartments. The tenant experience is transformed, as well; they simply use the Home app and newly installed digital locks to view and move into apartments.
Axel Bard Bringéus of EQT Ventures explained the appeal of such a service: “The real estate and housing market have barely changed over the last 30 years and the degree of digitization and innovation is, in comparison to other sectors, very low. Home’s Thilo and Moritz are changing this.”
Thilo Konzok and Moritz von Hase founded the company in 2016, with the mission of making the housing market fairer and more transparent for everyone involved. Now the service gets 1,100 landlord requests per month. To meet this demand, the business will expand into new cities, nationally and internationally, throughout 2020.
Konzok, also the CEO, commented on the company’s mission and how the Series A will help: “Home exists to bring tenants and landlords together, becoming the ideal tenant for landlords and the ideal landlord to tenants. By doing this, we empower more people to own real estate and enable more tenants to find a home they really love. This latest round of investment will help us to serve more landlords in more cities and significantly improve the tenant experience, enabling us to build the first housing brand that both tenants and landlords love.”
Commenting on the decision to invest, Jörg Binnenbrücker of Capnamic said: “When we first met Thilo and Moritz we were impressed by their vision of creating a new asset class and form of ownership. Capnamic is excited to have found the best team to bring this new housing experience to everyone and capture a massive market opportunity.”