- The round marks the largest Series B in European Proptech history.
- New York-based Oak HC/FT, a growth equity VC-led the round alongside Moore Speciality Credit and existing investors FinTech Collective and Talis Capital.
- IMMO has raised over $2.5 billion in capital commitments from leading institutional investors for its tech-first platform to deploy into the previously undisrupted and unscaleable single-family rental housing in Europe.
- Company relies on machine learning and AI to buy single family homes at scale and uses tech to make managing homes scaleable, professionalising the $50tn market for European residential investment.
IMMO, the tech-driven residential investment platform revolutionising how people can sell, rent and invest in single-family rental (SFR) housing, has closed a $75 million Series B equity funding. The round was led by Oak HC/FT, a US based venture and growth equity fund investing in healthcare and fintech, alongside Moore Speciality Credit and existing investors FinTech Collective and Talis Capital. The company will use the capital to accelerate its expansion across Europe and purchase 10,000 homes backed by $2.5 billion in commitments from leading institutional investors.
IMMO uses a tech-enabled and data driven approach to building scalable residential exposure for ethically minded investors, offering an ecosystem solution from sourcing and acquisition to lettings and property management. IMMO’s technology analyses over €6 billion in properties per month to identify investment opportunities. The IMMO team then physically inspects selected homes collecting over 300 data-points using the company’s proprietary inspection app in order to make an offer. Post purchase, IMMO upcycles the properties into modernised, beautiful 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.
“Now is the time to unlock and professionalise the European residential category. Residents deserve a better, more convenient, affordable and environmentally sensitive rental product. Responsibly minded institutions, on the other hand, 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. Redefining what residents can expect from their homes is a great responsibility and at the same time an amazing opportunity,” http://lucfr.co.uk/about/ said Hans-Christian Zappel, CEO and Co-Founder of IMMO. “We’re incredibly excited to partner with Oak HC/FT. Oak’s experience in guiding companies that open new asset classes paired with their willingness to dive deep into our business to support on an operational level makes clear why they are one of the leading fintech growth investors in the world. We have an incredible set of investors behind us and are grateful for their support.”
Having experienced 1,200% growth in the last 6 months, IMMO has now partnered with some of the largest global investment managers to invest into SFR across many European markets. In addition to accelerating the company’s geographical expansion within its offices in London, Hamburg, Cologne, Madrid, and Delhi, this funding will fuel the growth of IMMO’s technology and operations through investment in talent acquisition in all offices globally.
“IMMO is a growth stage company that has become synonymous with SFR investments in Europe: one of the most in-demand, supply-deficient asset classes. IMMO is leading the unlocking of this new asset class, and is setting the standard for data-driven portfolio aggregation in Europe,” http://centralenfieldclc.org.uk/cpd-curriculum-support/ said Dan Petrozzo, Partner at Oak HC/FT. “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. We’re excited to support the company as it expands into new markets and builds an iconic brand in residential living.”