Home raises EUR11m in Series A funding
Home, a Berlin-based company dedicated to creating a better housing experience, has raised an EUR11million Series A round from Capnamic, the EQT Ventures fund (EQT Ventures), FJ Labs and Redalpine.
The latest round of investment will be used to increase product innovation, particularly on the tenant side, as well as drive the expansion of Home’s offering into new cities.
Anyone who has either rented a home or been a landlord knows that it can be time-consuming, stressful and complicated for everyone involved. For owners, there is the barrier of having to become an expert in many different areas – from what rent to charge to understanding legislative changes. For tenants, there is often a lack of transparency and poor customer experience
Home’s founders Thilo Konzok and Moritz von Hase set out to solve these challenges, making the housing market fairer and more transparent for everyone. Founded in 2016, Home acts as both the tenant and the landlord. The company rents apartments directly from owners, removing the stress and financial risks associated with being a landlord. Owners sign a contract in the Home app in under 30 minutes and, from then on, simply receive their rent. Using data-based evaluations, Home then finds the ideal tenants for the apartments. Home creates a new experience for tenants as they simply use Home’s app and digital locks to view and move into apartments.
Every month more than 1,100 landlords request an offer from Home. To be able to accept all of these requests, the company will expand into new cities – nationally and internationally – throughout 2020.
"Housing is one of the most complex problems our cities face and housing needs both parties – those who own properties and those who live in them. That said, the two groups’ interests are not always aligned,” says Thilo Konzok, founder and CEO at Home. “Home exists to bring tenants and landlords together, becoming the ideal tenant for landlords and the ideal landlord to tenants. By doing this, we empower more people to own real estate and enable more tenants to find a home they really love. This latest round of investment will help us to serve more landlords in more cities and significantly improve the tenant experience, enabling us to build the first housing brand that both tenants and landlords love.”
Jörg Binnenbrücker, Managing Partner at Capnamic, says: “When we first met Thilo and Moritz we were impressed by their vision of creating a new asset class and form of ownership. Capnamic is excited to have found the best team to bring this new housing experience to everyone and capture a massive market opportunity.”
Axel Bard Bringéus, Deal Partner and investment advisor at EQT Ventures, says: “The real estate and housing market have barely changed over the last 30 years and the degree of digitalisation and innovation is, in comparison to other sectors, very low. Home’s Thilo and Moritz are changing this. The team’s unique understanding of this huge market, grand vision and entrepreneurial grit have resulted in impressive traction over the last year and EQT Ventures is looking forward to the next phase of Home’s journey.”