Leading European PropTech venture capital firm, Round Hill Ventures, backed by Round Hill Capital, is investing in German PropTech start-up, Erste Hausverwaltung, to help sustain growth in the property management platform which has doubled in size over the past year. The new funding will be used to develop new technology software and solutions for German property managers.
The platform, which was founded in 2021 by a group of tenants and owners, is working 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 is helping its customers be more proactive in their property management by solving problems before they arise, keeping units in good shape, stabilising rental incomes and adding value to their development activities.
Since its creation, Erste Hausverwaltung has grown rapidly and now 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.
Justus Mentzel, Co-Founder of Erste Hausverwaltung comments: “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, adds: “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.”
The funding came from Round Hill Ventures dedicated European PropTech Fund, investing in Late Seed – Series B high growth ventures delivering innovation across the Built Environment. Since 2016, Round Hill Ventures - backed by Round Hill Capital, a leading global specialist real estate investor developer and manager - has been a first mover investor in the European PropTech ecosystem with a strong track record in backing global success stories such as SenSat, Spacemaker AI, Allmyhomes, Plentific and Casafari.