IMMO, a tech-driven residential investment platform that helps people 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 institutional investors.
The platform 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 more than €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 renovates the properties and then offers them 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 professionalize the European residential category,” IMMO co-founder and CEO Hans-Christian Zappel said. “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.”
“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.”
In addition to accelerating the company’s geographical expansion within its offices in London, Hamburg, Cologne, Berlin, 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,” 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.”