Vienna-based iDWELL, a PropTech company, announced on Monday, November 4 that, it has secured €10M in funding from Knight Capital as well as existing investors such as Flashpoint Venture Capital and Wecken & Cie.
The Austrian company will use the funds to accelerate its growth, invest in an even smarter property management platform, and expand the range of services and service providers.
“The focus will be on developing even more efficient property management based on artificial intelligence (AI), expanding the range of financial and insurance solutions, and broadening the service portfolio,” explains Anna Matzenberger, COO of iDWELL.
iDWELL: Simplifying property management
Founded in 2017 by Alexander Roth, iDWELL has developed a Software as a Service (SaaS) solution that optimises efficiency and transparency in property management and connects all parties involved in a property on a central platform.
As a result, it enables efficient communication and management.
At present, the Austrian company manages over 1.5M portfolio units in Austria, Germany, and Switzerland and serves more than 750 customers.
“We want to continue to grow consistently by winning new property management companies, diversifying our product offerings, and fostering long-term partnerships within the DACH region”, says Alexander Roth, founder, and CEO of iDWELL.
The investors
Knight Capital is an investment firm in Northwestern Europe, focusing on industry-specific software sectors such as real estate, healthcare, and (semi-)public organisations.
Its investment in iDWELL represents the firm’s second investment in the DACH region.
“We are excited to partner with iDWELL, a leading provider in the PropTech sector. With its impressive growth and a highly satisfied customer base, iDWELL is perfectly positioned to provide cutting-edge solutions in the rapidly digitizing real estate industry”, says Diederik Ingen Housz, Managing Partner of Knight Capital.
Wecken & Cie. is the investment vehicle of the Wecken Family Office. The company has been investing in early-stage venture capital since 2007 with a primary focus on disruptive B2B companies in the FinTech and PropTech space.
The company participates together with other institutional investors in Seed/Series A investment rounds with €500k to €3m initially, with the ability to provide additional capital over the life of the investment.
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