Justhome, a Berlin-based home financing startup, has raised €3.3M in a pre-seed funding round led by pan-European VC firm Target Global. APX, the Berlin-based early-stage fund, also participated in the round alongside several angel investors.
The German company will use the funds to build its digital home financing platform and develop its financing solutions.
Homeownership in Germany is the lowest among EU countries, with a rate of approximately 45%.
According to the company, more than 300,000 first-time prospective homebuyers each year cannot access the market since property prices have doubled over the last decade.
Founded by Marc Rustige, Johannes Fenner, and Martin Mehlitz, Justhome is building a digital service to help more people afford a home against a challenging economic backdrop.
Simplifies home buying process
The Berlin-based startup provides aspiring homebuyers with a vastly improved digital customer experience during the mortgage process and the ability to receive pre-approved mortgage options delivered in minutes from more than 700 lenders.
Besides better brokerage, Justhome is developing its financing solutions to enable first-time homebuyers to expand their budget and responsibly purchase a property.
CEO Johannes Fenner says: “Nine out of 10 Germans under 30 want to own a home in the future, an even stronger trend post-COVID. That’s why we are so determined to provide financial solutions to help this generation become homeowners in a way that is convenient and native to them: digital and self-driven.”
Target Global
Target Global is a pan-European technology investment firm with more than €3B in assets under management. It invests in companies across all stages of their lifecycle, from pre-seed to pre-IPO.
Since 2012, Target has invested in Delivery Hero, Revolut, Auto 1 Group, Copper, Rapyd, Wefox, Flink, Cazoo, and many others.
To date, Target has backed 15 unicorns and had 21 exits and 7 realized IPOs.
Ricardo Schaefer, Partner at Target Global, added: “We have increasingly observed the global appetite for more customer-centric and innovative home financing solutions. With Justhome, we found an extremely ambitious team that is looking to shake up the market to address that demand. We are excited to be part of this journey, which has just begun.”
