IMMO raises landmark $75 million Series B funding to execute on $2.5 billion in capital and become the largest residential investment tech platform in Europe

April 12, 2022

IMMO

  • 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,” 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,” 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.”

 

About IMMO

IMMO is Europe’s first technology-led residential real estate investment platform designed to create portfolios of quality from existing single-family rental (SFR) assets at scale and at speed.

The company has built a unique capability in the form of an end-to-end service solution, providing investor clients with everything from sourcing, acquisition and portfolio management through to lettings and property management, in order to drive performance and maximise returns.

Powered by technology, managed by experts, the platform sources, underwrites and structures SFR assets into large portfolios for investors, resulting in stabilised rental income, capital appreciation and best-in-class property management. IMMO is active across 10 major German markets (Hamburg, Cologne, Düsseldorf, Bonn, Hanover etc.) as well as Spain markets (Madrid), the UK (London), and has a growing team in India.

IMMO has been awarded “Tech Pioneer” by the World Economic Forum and has been titled “Real estate asset manager of the future” by Goldman Sachs. The company was cofounded in 2017 by CEO Hans-Christian Zappel who has been acknowledged on the Forbes 30 under 30 list, together with its CIO Samantha Kempe (Blackstone, PwC), and COO Avinav Nigam (Walt Disney, Procter & Gamble). IMMO’s team is 150+ people strong with offices in the UK, Spain, Germany and India.

About Oak HC/FT

Oak HC/FT is a venture and growth equity firm investing in companies driving transformation in healthcare and fintech, two uniquely complementary and high-growth sectors. With deep domain expertise and strategic resources, Oak HC/FT partners with leading entrepreneurs at every stage, from seed to growth, to build businesses that make a measurable, lasting impact on these industries. Founded in 2014, the firm has $3.3 billion in assets under management and is headquartered in Greenwich, CT, with investors in San Francisco and Boston. Follow Oak HC/FT on Twitter and LinkedIn and learn more at oakhcft.com.

About Talis Capital  

Founded in 2009, Talis is a London-based venture capital firm, backing visionary founders at seed and Series A in the US and Europe. Investing on behalf of an interdisciplinary community of entrepreneurs who’ve built billion-dollar businesses, Talis is uniquely placed to add value to the whole entrepreneurial journey, supporting founders who see the future differently through every stage of their company lifecycles. Darktrace (LSE), Onfido, Ynsect, Garten, Luminance, iwoca, Plum Guide and Pirate.com are among Talis’ portfolio of 55+ companies. For more information, see www.taliscapital.com

About FinTech Collective

FinTech Collective (www.fintech.io) is an SEC registered investment adviser and global venture capital firm focused on technology startups with the potential to reimagine financial services. Founded in 2012, the firm has deep experience investing across capital markets, wealth management, banking, lending, payments, insurance, and digital assets. The managing partners of FinTech Collective met in their mid 20’s and helped build, scale, and sell four fintech businesses generating over $1.5 billion of shareholder value.

Backed by some of the world’s leading institutional investors, FinTech Collective has already invested in 60+ portfolio companies across traditional fintech and DeFi. Notable investments include Anyfin (Stockholm), Axoni (NYC), Centrifuge (Berlin), Flutterwave (Lagos), IMMO Capital (London), Minu (Mexico City), MoneyLion (NYC), NYDIG (NYC), Ocrolus (NYC), Quovo (NYC, acquired by Plaid), Rainbow Wallet (NYC), UMA (Distributed), Vestwell (NYC), and Willa (Stockholm / LA).

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