Europe’s leading iBuyer Kodit.io closes 1.7M€ seed round to fund expansion into new EU cities
Proptech company’s AI-powered real estate platform offers fair prices, quick sales and minimal stress for homeowners looking to sell
HELSINKI, Finland (August 24th, 2018) – Kodit.io, the Finnish Proptech company that gives homeowners a stress-free way to quickly sell their homes for a fair price, has announced the close of a 1.7M€ seed round to fund expansion into new EU cities. The round was led by Speedinvest x and Norwegian international media group Schibsted, with Icebreaker.vc providing additional funding.
“We are thrilled to back the amazing team behind Kodit.io. Its approach to revolutionize the way of buying and selling homes means a true disruption to the massive European real estate market. We are very excited to be a part of it and support the company in scaling internationally and raising additional capital,” says Mathias Ockenfels, Berlin-based Partner at Speedinvest x.
Kodit.io’s successful recent partnership with Sanoma’s Oikotie (Finland’s biggest real estate listing site and housing marketplace) highlights the potential for future cooperation opportunities in various marketplaces owned by Schibsted around the world.
“We have followed the progress of Kodit.io closely since their launch and have been impressed by the team’s execution skills, attitude and capacity. We are excited to join this journey and support the growth and scaling into more countries and cities. Kodit.io has a chance to become the leader in many markets in Europe,“ says Jussi Lystimäki, Vice President for the global investment team at Schibsted Marketplaces.
Former property investor and company founder Kalle Salmi believes the time, money and effort it takes to sell your home is unnecessary when technology and processes exist that can solve most of these issues. Homeowners who use Kodit.io can receive AI-backed evaluations and cash offers for their properties within 24 hours, with no need to renovate or show homes to the public. As sellers are not part of a chain of property sales, Kodit.io can also offer flexible moving out dates.
“During the past eight months, we have seen how significantly our technology and close co-operation with real estate investors, realtors and listing portals improves the home selling and buying process,” said Kalle Salmi. “After more than one hundred customers in Finland and Estonia, we are super excited to have Speedinvest x, Icebreaker and Schibsted on board to support our growth in Europe.”
Kodit.io is the leading real estate iBuyer (companies or private investors that use technology platforms to quickly purchase homes from sellers who desire convenience and speed) in Europe, with more than 80 properties purchased and more than 40 exited over the past 8 months. Kodit.io currently operates in 7 cities in Finland and Estonia, and is now citing potential markets in Southern and Eastern Europe.
For additional information:
Kalle Salmi, CEO, Kodit.io
+358 50 573 5229
Kodit.io (Homerun Technologies Ltd) is a PropTech startup and the leading iBuyer in Europe providing instant offers for apartment owners. Our mission is to make buying and selling real estate easier.
Kodit.io is the world’s most accurate AI-powered real estate data platform and a revolutionary service concept that is redefining how people sell and buy homes.
For home sellers we give instant cash offers on their homes and provide them with an opportunity to lease back their old home so they can avoid temporary housing arrangements. For buyers, we offer fully renovated homes and the opportunity to trade in their old home for a data-based market price.
You can find more about us: www.kodit.io
Speedinvest Network Effect
Speedinvest is a pan-european brand of venture capital funds with €200M under management that invests in seed stage technology start-ups in fintech, marketplaces, industry 4.0 and deep tech. Besides providing financial investments, the fund actively deploys its network and know-how to support its portfolio companies e.g. through its operational units Speedinvest Heroes and Speedinvest Pirates. Speedinvest’s office in Silicon Valley supports portfolio companies entering the US-market.
Speedinvest x is the first Speedinvest Focus Fund dedicated to one specific vertical. Launched in late 2017, it invests €50M in entrepreneurs who are building tomorrow’s network effects-driven platforms and marketplaces and the technologies that enable them. Find out more: www.speedinvest.com/x
Schibsted Media Group
Schibsted Media Group has one of the world’s leading online marketplace businesses, active in 22 countries around the world and reaching more than 200 million people worldwide. We are #1 in General Classifieds in 18 countries including France, Spain, Sweden and Brazil. We seek to invest into early-stage startups operating in the marketplace space using new models to engage with users and generate sustainable growth businesses. Our model is to help start-ups to grow faster and expand to new countries.
Icebreaker.vc is a Helsinki-based €20 million venture fund and a community for Founders and Pre-Founders who want to build or join strong tech companies. Our growing community consists of hundreds of Founders and Pre-Founders who have over 5 years of solid work experience and are great at what they do.