Immo Investment Technologies, a tech-enabled direct home buyer, has raised €11 million financings round. The London-based fintech startup buys homes and helps those who wish to sell their property to do it reliably. Led by Talis Capital and HV Holtzbrinck Ventures, Immo’s latest round witnessed the participation of Mato Peric, Rahul Mehta, and Tom Stafford. Besides the capital funding, the startup also announced that it had raised over €60 million in real estate “buyer capital,” according to Techcrunch.
The funding will primarily reflect on finding more individuals who are looking for buyers and will quicken the purchases. Also, making the refurbished homes to more rental markets to increase the credibility of the platform for the investors.
Launched in 2017, Immo has 3,000 property valuations in its account. The integration of technology has reduced the time and complication of property selling to a large extent.
By simplifying the process of property selling, Immo makes the purchase at a better price without any legal or agent fee. If the seller provides all the information correctly, the firm would send the payment in less than five minutes. Immo does need a single inspection, so that listings, viewings, and chain-risks are not in the scene. Besides, the IMMO valuation model is based on 100+ parameters and professional inspection of your property.
“Immo buys residential properties directly from consumers on behalf of professional investors, thereby helping consumers sell their home in a fast, reliable, transparent and convenient way and providing investors with desired residential asset exposure at scale,” explains Hans-Christian Zappel, Immo’s co-founder and CEO.
The integrated machine learning provides a fast, reliable financial underwriting of a property. With this, the process is a matter of minutes, unlike the manual process that takes days. However, traditional real estate brokers are the main competitors of Immo, says Zappel. OpenDoor, Nested, and Casavo are competing with the startup in the online space as well.
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