Berlin-based Home, a tenant and landlord mutual engagement company, has raised €11million in a Series A round of funding from Capnamic, EQT Ventures, FJ Labs, and Redalpine. The company plans to use the financing for product innovation and market expansion.
“Housing is one of the most complex problems our cities face and housing needs both parties – those who own properties and those who live in them. That said, the two groups’ interests are not always aligned,” said Thilo Konzok, founder and CEO at Home. “Home exists to bring tenants and landlords together, becoming the ideal tenant for landlords and the ideal landlord to tenants. By doing this, we empower more people to own real estate and enable more tenants to find a home they really love. This latest round of investment will help us to serve more landlords in more cities and significantly improve the tenant experience, enabling us to build the first housing brand that both tenants and landlords love.”
Jörg Binnenbrücker, Managing Partner at Capnamic, said: “When we first met Thilo and Moritz we were impressed by their vision of creating a new asset class and form of ownership. Capnamic is excited to have found the best team to bring this new housing experience to everyone and capture a massive market opportunity”.
Axel Bard Bringéus, Deal Partner and investment advisor at EQT Ventures, said: “The real estate and housing market have barely changed over the last 30 years and the degree of digitization and innovation is, in comparison to other sectors, very low. Home’s Thilo and Moritz are changing this. The team’s unique understanding of this huge market, grand vision and entrepreneurial grit have resulted in impressive traction over the last year and EQT Ventures is looking forward to the next phase of Home’s journey.”
Jose Marin, Founding Partner at FJ Labs, said: “Home has a very interesting approach to a large and inefficient rental process. Their exceptional product and user experience make it easy to find and contract supply. Thilo is a perfect example of the type of founders we like to work with: metrics driven, strategic and analytical thinker as well as a great pitcher.”