Berlin-based PropTech startup Seniovo has announced that it has raised a funding of €2 million in a Series A financing round. This comes after the seed round that was signed in October 2018. The investment was led by PropTech1 Ventures and IBB Beteiligungsgesellschaft as the lead investors and the German Media Pool with its print media partners.
Other real estate entrepreneurs with relevant expertise in the care sector also joined as new investors. The existing investors participated as Seniovo achieved an annual growth in revenue of over 250% (Q1 2018 to Q1 2019).
Germany’s first one-stop solution for barrier-free conversion
The German startup helps seniors in need of care along the entire process of age-appropriate and barrier-free reconstruction of their apartments and houses.
The issue of an ageing society and the corresponding increase in the need for long-term care is one of the central social challenges of our time. Today, almost a billion people worldwide are 60 years and older, while this number will rise to 2 billion by 2050. About 50% of these people will need some long-term care. Seniovo pursues the goal of enabling a steadily increasing proportion of those in need of care to remain within their own four walls.
The Berlin-based PropTech startup acts as a one-stop contact and offers target group-specific advice on its online platform and digitalises the entire application and reconstruction process right through to implementation of the measures on-site with its craftsmen or the procurement of certified partners. In many cases, persons in need of care do not have to make any additional private payment.
Helped more than 500 people in need
Seniovo’s success rate in applying for subsidies for people in need of long-term care is 95%. The company has already helped more than 500 people successfully reconstruct their homes.
Anja Rath, Managing Partner of PropTech1 Ventures, comments on the new investment decision:
Seniovo is one of the very few startups that yields both an economic and a social return. We are delighted to be once again able to make a contribution to further development with a strong syndicate of co-investors.
Jonathan Kohl, CEO & founder of Seniovo, adds:
We want to enter new geographical regions as well as launch new products, using the freshly raised growth capital. Above all, further digitalisation of our processes and expanding our B2B business will increase our growth trajectory and efficiency.
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