Real estate bricks and mortar and the virtual world of technology may seem like polar opposites at first glance, but real estate tech is fast becoming a hotspot for investment.
In the US venture firm Fifth Wall has ambitions to raise $400m (€457.5m) for a dedicated real estate tech fund. San Franciscan online estate agent Opendoor has been valued at more than $2bn after a recent funding round.
The market in Europe isn’t there quite yet, but Goodlord’s recent £7bn series B funding round, backed by Finch Capital, shows that momentum is building.
Goodlord has taken a slightly different approach with its platform. Rather than trying to disrupt and disintermediate the traditional lettings agents, Goodlord’s technology is designed to take the reams of paperwork needed to let a property into the cloud. It hopes that in future tenants will be able to hold a digital rental passport they can use each time they move. Frazzled renters will hope Finch’s latest investment can build scale fast.