European venture capital firm Round Hill Ventures doles out investment from its Proptech Fund. This fund specializes in Series B companies and provides early to late seed funding. Recently, the fund invested in a German proptech startup called Erste Hausverwaltung.
The startup doubled in size over the last year, and this investment will allow them to continue growing. Erste Hausverwaltung’s property management platform will use the sizable seven-figure funding to develop new technology and solutions for German property managers.
Justus Mentzel, Co-Founder of Erste Hausverwaltung stated: ‘As a new player in the German property tech market, I’m grateful to have the support of Round Hill Ventures. This esteemed European investor helps new businesses achieve their goals— and with this funding, we can move our technology forward.’ Mr. Mentzel continued: ‘Property management in Germany is typically outdated and unmanageable without sufficient manpower or funding. This is where Erste Hausverwaltung comes in — we can help property managers modernize their businesses and elevate tenant experiences. With additional funding, we can also invest in new talent to provide digital property management solutions.’
Round Hill Ventures Managing Director Arnie Sriskandarajah said, “Our goal is to be a leading provider of property technology in Europe. Erste Hausverwaltung is a great example of a venture that can modernize the built environment by producing user-friendly solutions that respond to popular trends. Round Hill Ventures is pleased to assist the platform as it grows to double its size over the last year. We anticipate helping it grow even further throughout Germany in the near future.”
What Does The Proptech Startup Do?
In 2021, Justus Mentzel and Marcel Tamm founded Erste Hausverwaltung to modernize property management. Their company created digital solutions for German residential real estate managers that allow them to manage properties in one place.
Erste Hausverwaltung provides technical and administrative support to the property managers of both rented out and owned apartments. Their clients benefit from their proactive property management by avoiding issues, keeping their units in good condition, stabilizing their rental income and increasing the value of their development efforts.
Erste Hausverwaltung’s subsdiaries currently manage over 2,500 units. The company aims to grow to over 10,000 managed units in the next year with a staff of more than 30. Since its inception, Erste Hausverwaltung has experienced rapid growth.