iDWELL raises Series A
iDWELL, one of the leading digital property management platforms in the DACH region, raised a mid-single-digit million Series A funding round led by Flashpoint Venture Capital with the participation of Swiss family office Wecken & Cie. and existing investors. The company will focus on expansion of its operations outside of the DACH region.
Digitalisation in real estate is booming
iDWELL is a mobile CRM software designed for real estate management enabling the automation of routine processes and reducing all communication required between the parties involved in property management. The company manages 750,000 apartments and 60 million square meters, with 60 percent of its business generated in Germany. Its 250 customers with a real estate portfolio worth over 100 billion euros under management include some of the largest and best-known property management companies in Austria and Germany, such as EHL Immobilien, AREALIS, von Rüden Immobilien and the MWW Group.
“We are strong believers in the digitization of real estate, and we believe that Covid has accelerated this process. We were impressed with the efficiency and the product quality of iDWELL and believe that with the current round they will have enough resources to get to new heights, further accelerating their growth and revenues,” commented Alexander Konoplyasty, General Partner of Flashpoint.
The cloud-based software brings together property management, landlords, tenants and service providers – for example tradesmen – on a networked platform. The company creates an almost self-managed property through a high degree of automation. Not only do property owners or property managers benefit from a high reduction in care costs, but tenants also benefit from faster responses and solutions to technical or administrative problems. The iDWELL app creates more transparency and better service quality for all users.
New markets in 2022
After the successful expansion in Austria and Germany, PropTech company iDWELL is now about to take the leap into further markets.
“We have been able to gather valuable know-how over the past few years, which will now help us with our international expansion. In particular, our expertise in sales and in the digital onboarding of our customers, in combination with our capital resources, creates the necessary levers for further growth in Europe,“ commented Alexander Roth, founder and CEO of iDWELL.
New product division planned
In 2022, iDWELL will focus on the further development of the integrated marketplace. This will create an ecosystem in the real estate industry where services such as thermal maintenance, internet services or insurance can be offered directly in the iDWELL customer app. Property management companies receive the resulting repairs and service orders fully digitized for further processing and evaluation.
“The marketplace will become an independent business segment for us, which will enable us to achieve an unprecedented level of service and completely new revenue streams in property management,” Roth is convinced.
About iDWELL
iDWELL increases the service quality in real estate management with its SaaS CRM software. The software bundles all communication channels on one platform. This increases the efficiency of communication between property managers, developers, landlords, service providers and residents. The mobile iDWELL app allows users to access all important documents and information of a property. The Austrian PropTech was founded in May 2017 by Alexander Roth. In 2018, the company received a seven-figure investment through primeCROWD and was awarded the title of “Startup Battle Champion” by IG Lebenszyklus Bau. In 2019, iDWELL secured the “Best PropTech Startup 2019” award from the Austrian PropTech Initiative. The company is a Founding Partner of the StartUp Incubator Network at The BASE Hernals
About Flashpoint
Flashpoint is an international investment group with US$400m AuM. Flashpoint manages six venture funds: four VC funds, a Venture Debt Fund and a Secondary Fund. Investors in Flashpoint’s funds include more than 100 major family offices and HNWIs. The company has offices in London, Tel Aviv, London, Budapest, Warsaw, Riga and Moscow. The funds have made investments in over 40 companies including names such as Guesty, Chili Piper, IVI and Dostavista. Flashpoint has completed nine exits, including the sale of its stakes in Shazam (to Apple), Chess.com (to Mark Scheinberg, founder of PokerStars), Ponominalu (to MTS), Netology (to Severgroup), GetIntent (to Gazprom Media).
About Wecken & Cie.
Wecken & Cie. is a venture capital and real estate investor that invests in fast-growing, disruptive European technology companies in the FinTech and PropTech sectors as well as listed real estate companies. Since 2007, Wecken & Cie., led by Frank Hölzle and Thilo Schmid, has financed more than 40 companies, successfully guiding Delivery Hero, Quentic and commercetools, SevDesk, Jedox among others. The company is backed by serial founder Klaus Wecken. He became known as co-founder and board member of KHK Software, which he sold to the Sage Group in 1997.