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.
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Could Europe's first proptech unicorn be on the horizon?
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.
