Proptech investment platform IMMO has closed $75m (£57.5m) in a Series B funding round led by Oak HC/FT.
IMMO will use the capital to purchase 10,000 homes across Europe backed by $2.5bn (£1.91bn) in commitments from leading institutional investors. It will also fund talent acquisition in technology and operations in all offices.
The London-headquartered company’s platform gives investors the chance to sell, rent and invest in single-family rental housing.
IMMO’s investment users have properties sourced, acquired and managed for them. IMMO’s analyses properties with a combined value of €6bn (£4.6bn) every month using over 300 data points.
“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,” said Hans-Christian Zappel, CEO and co-founder, IMMO.
Further investment came from Moore…
