European venture capital firm Round Hill Ventures has invested in German digital property management company Erste Hausverwaltung.
The seven-figure investment will be made through Round Hill Ventures’ European PropTech Fund that invests in Late Seed to Series B+ rounds as lead or co-investors.
Erste Hausverwaltung will use the resources to develop new technology software and solutions for German property managers.
Justus Mentzel, co-founder of Erste Hausverwaltung said: ‘As a new player in the German proptech market, it’s great to have the backing of Round Hill Ventures, a renowned European investor helping start-ups like ours reach their goals. 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, 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, added: ‘Our vision is to be at the forefront of property technology innovation in Europe. 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 in its 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.’
Set up in 2021 by Justus Mentzel and Marcel Tamm, Cologne-based Erste Hausverwaltung aims to modernise property management by developing digital solutions that enable German residential real estate managers to manage their properties in one place.
The solutions help resolve problems before they arise, keeping units in good condition, stabilising rental income and adding value.
Through its subsidiaries, the company presently provides support for more than 2,500 units, and plans to expand operations to more than 10,000 by 2023.
