IMMO raises £2.7m Series A follow on funding led by FinTech Collective and Surplus Invest to expand across Europe.
FinTech Collective and Surplus Invest led the oversubscribed financing round, which brings the total Series A raise to €14m.
IMMO operates a residential real estate platform that acquires, renovates and manages single family properties on behalf of institutional investors. The company uses proprietary technology to source and appraise residential assets at scale.
IMMO has secured £2.7m in a Series A follow on funding round led by FinTech Collective and Surplus Invest. The financing also saw participation from existing backers including Talis Capital and HV Holtzbrinck Ventures, bringing the total Series A raise to €14m. The capital will support the company as it scales its operations and expands its property investment platform into new European markets.
Founded in 2017, IMMO uses proprietary machine learning and data analytics to source and acquire single family residential homes directly from consumers. The platform enables institutional investors to build large portfolios of residential rental properties quickly and efficiently. The latest funding arrives as institutional demand for secure yield generating asset classes increases during the coronavirus pandemic.
Investor perspective
"The IMMO team has impressed us with their outstanding and highly complementary expertise relevant to all areas of the business. IMMO is uniquely positioned to open up residential real estate as an asset class for institutional investors by overcoming previously existing barriers to entry through the intelligent use of technology and data."
Jannis Roser
Managing Partner, Surplus Invest
Use of funds
- 01Expand into international markets
