London-based real estate investment platform IMMO raises additional €3 million to support its European expansion
Summary
From virtual 360 viewings, online credit checks and digital contracts for renters that are relocating thousands of miles, all the way to data-driven investing with confidence in unknown cities at the touch of a button, IMMO is turning the traditional real estate sector on its head. The additional capital comes at an exciting time as IMMO accelerates its investments platform to offer up more markets across Europe, and develop the full technology suite from acquisitions to asset management. The startup, which is already active in the UK and Germany, says that the appetite for residential real estate has only been growing among institutional investors, many of whom are looking at the covid crisis as an opportunity to focus on safe haven, yield generating asset classes. We have built a sourcing, renovations and property management machinery that allows us to quickly assemble €100-500m sized residential portfolios, made up of single unit assets in a matter of months, that generate very attractive stable returns almost instantly. 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.”