The Germans are coming! Berlin proptech VC lands with millions to spend

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first_imgHome » News » The Germans are coming! Berlin proptech VC lands with millions to spend previous nextProptechThe Germans are coming! Berlin proptech VC lands with millions to spendProptech1 Ventures has set up an office in the City and is looking for UK proptech firms seeking to expand into Europe.Nigel Lewis16th October 201901,088 Views A German venture capital firm specialising in proptech has set up an office in the UK and intends to begin pouring millions of euros into new tech ventures within the property industry.The UK already punches well above its weight when it comes to external investment in proptech and the arrival of Berlin-based Proptech1 Ventures in London marks its rapidly-growing importance.For example, online-only lettings giant OpenRent is backed by another large venture capital firm also based in Berlin, Rocket Internet, which invested £4 million in the agency two years ago and last year poured £7 million in Goodlord.Proptech1 Ventures’ new London office is in the Square Mile’s central CityPoint office tower near Moorgate and will offer British proptech firms cash to expand their operations or products into mainland Europe, arguably a brave move given the UK is about to leave the EU.Dragon’s DenThe venture firm is a Dragon’s Den style organisation offering initial investment in companies of between €200,000 and €3 million but also access to expertise from seasoned European property and tech experts with contacts in markets across the continent.Proptech1 Venture says it will be funding tech firms operating in all sectors of the UK property industry including sales and lettings, construction, commercial and property management.In Germany, where it also has offices in Munich as well as Zurich in Switzerland, its most high-profile project has been Wunderflats, a flexible tenancy length renting platform and housing provider which it has led funding rounds for totalling so far €8 million.Proptech1 Ventures Rocket Internet goodlord proptech openrent October 16, 2019Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021last_img

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