Huge congratulations to FTC II portfolio company IMMO on their landmark $75m Series B round from growth investor Oak HC/FT.
The round, which was the largest Series B in European Proptech history, includes participation from Moore Capital, Talis Capital, and FinTech Collective.
The company will use the capital to accelerate its geographic expansion across Europe and execute on the $2.5b in capital demand across 10,000 homes, becoming the largest residential investment platform in Europe. Having experienced 1,200% growth in the last 6 months, the funding will further fuel IMMO’s growth through talent acquisition across their offices.
We have been investors in IMMO since the Series A in 2019 and have been proud to see the team grow from one office to operating across London, Hamburg, Cologne, Berlin, Madrid, and Delhi.
You can see our original article (2019), FinTech Collective invests in IMMO
"Now is the time to unlock and professionalize 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.
Residential real estate is one of the largest alternative asset classes in the world, representing nearly €40t in total value in Europe alone, with only 2% of residential properties currently owned by institutional investors.
IMMO is building the real estate asset manager of the future - data-driven, and tech-enabled, providing a unique platform for institutional asset owners to find attractive and uncorrelated yields in an asset class they consistently want better access to.
IMMO raises landmark $75 million Series B funding to execute on $2.5 billion in capital demand and become the largest residential investment platform in Europe - PR News Wire