Berlin-based Hallo Theo, a property management company, announced that it has secured €10M in a Seed Round led by Insight Partners.
The German company will use the funds to accelerate its growth and expansion, across Germany.
“There are more than €29T worth of apartments in Germany, yet the average experience of an owner or tenant is underwhelming. Solving a problem of that scale drives our team to excellence every day. Today’s technology will enable us to transform the way real estate is managed and dramatically improve the lives of millions of people, ” says Jona Schaeffer, founder and CEO of Hallo Theo in a LinkedIn post.
Previously, the company secured €1.5M from notable business angels such as Dustin Figge (Homelike) and Patrick Henning (Luca).
Hallo Theo: Digisting property management
Jona Schaeffer (who sold his hospitality tech startup Charly) founded Hallo Theo in 2023 after experiencing inefficiencies in property management (piles of paperwork, fragmented communication, and outdated processes) in his Berlin rental apartment.
“Everything was inefficient, cumbersome, and outdated in many ways,” says Schaeffer in an interview with Business Insider.
Consequently, he has come up with a solution that automates commercial processes and improves communication between owners, tenants, and administrators.
Hallo Theo’s business model, inspired by solar provider Enpal, goes beyond software. It acquires entire property management firms, integrating them into its digital platform within weeks.
We buy the companies, integrate them into our platform, and make them completely digital in a few weeks,” says Schaeffer.
Additionally, the company claims that its AI-driven system reduces administrative costs and speeds up processes, improving overall efficiency.
With offices in Berlin, Hamburg, and Frankfurt, the company aims to expand across Germany by 2025.
At present, the company now manages over 9,000 apartments and grows by more than 30 per cent every month.
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