European proptech venture capital firm, Round Hill Ventures, has pumped investment into a German proptech startup Erste Hausverwaltung. The funding came from the dedicated European PropTech Fund, which invests in late seed to Series B rounds. This fund has a strong track record in backing global companies, including SenSat, Spacemaker AI, Allmyhomes, Plentific and Casafari.
Funds utilisation
The investment will help the startup sustain growth in the property management platform, which has doubled in the past one year. Erste Hausverwaltung will use the significant seven figure investment to develop new technology software and solutions for German property managers.
Justus Mentzel, Co-Founder of Erste Hausverwaltung commented: “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.”
What does the proptech startup do?
Erste Hausverwaltung was founded in 2021 by Justus Mentzel and Marcel Tamm. It works to modernise property management by creating digital solutions that enable German residential real estate managers to manage properties in one place.
Specialising in technical and administrative support for the managers of rental and owner-occupied apartments, Erste Hausverwaltung helps its customers be more proactive in their property management by solving problems before they arise, keeping units in good shape, stabilising rental income and adding value to their development activities.
Since its debut, Erste Hausverwaltung has grown rapidly and supports the management of over 2,500 units through its subsidiaries. With its current team of more than 30 employees, the company aims to scale its operations to more than 10,000 managed units in the next year.
