Round Hill Capital’s property technology venture capital arm is investing in German proptech startup Erste Hausverwaltung.
Round Hill Ventures said the seven-figure funding, made through its European PropTech Fund, will be used by Erste Hausverwaltung to develop new technology software and solutions for German property managers.
Erste Hausverwaltung, which was founded in 2021 by a group of tenants and owners, is working to modernise property management by creating digital solutions that enable German residential real estate managers to manage properties in one place.
The platform currently supports the management of over 2,500 units through its subsidiaries and expects to scale its operations to more than 10,000 managed units in the next year.
Justus Mentzel, co-founder of Erste Hausverwaltung, said: “Property management in Germany tends to be dated, and without the manpower or funding to digitise. This is where Erste Hausverwaltung can help property managers transform their business and the experience of occupiers.
“This funding will not only help us move our technology forward, but it will also allow us to invest in new talent to help provide digital property management solutions.”
Arnie Sriskandarajah, managing director of Round Hill Ventures, said: “Erste Hausverwaltung is a great example of a venture that can modernise the built environment by creating user-centric solutions that respond to market trends.
“Round Hill Ventures is proud to support the platform’s development, seeing the business double in size over the past year. We look forward to helping it expand further throughout Germany in the near future.”
To read the latest edition of the latest IPE Real Assets magazine click here.