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IMMO's recent fundraise - the largest series B proptech raise in Europe - is a sign that the market is growing, and growing up. The tech-driven residential investment platform, founded in 2017 by CEO Hans-Christian "Gigi" Zappel, chief investment officer Samantha Kempe, formerly of Blackstone, and chief operating officer Avinav Nigam, was already a big deal. It is backed by $2.5b of commitments from some fairly beefy institutional investors and has plans to buy 10,000 homes across Europe.
Although, for Zappel it is even bigger than that. "To us, the housing problem was - and is - much more than fixing a process or changing industry," he says. "It is about changing an entire category and rewriting a social contract. What is clear is that investors have woken up to the potential.
