Trussle, the U.K. online mortgage broker that competes most directly with Atomico-backed Habito, has closed £13.6 million in Series B funding. Notably, the round is led by Goldman Sachs Principal Strategic Investments — a division of Goldman Sachs — and Propel Venture Partners, a fund backed by European banking giant BBVA.
The company, whose total funding stands at £6.5 million following a previous seed round, says it has managed more than 3,000 properties and £25 million in bookings across platforms including Airbnb, Expedia, Booking.com and HomeAway.
The pair, which teamed up to back 90 North in 2011 and have seen that company grow to a propco with more than $1.5bn (£1.1bn) of asset under management, is looking to deliver the same success with its latest investment.
London-based 90 North Real Estate Partners has sold Lenovo Enterprise Campus, a three-building office campus in Morrisville, for $135.3 million. Seth Wiener of Capital One originated a three-year, $81.2 million acquisition loan on behalf of the buyer, a joint venture between New York-based Sentinel Real Estate and Bahrain Mumtalakat Holding Co. Capital One will hold $44.3 million of the loan and has syndicated the remainder to Regions Bank.
The London property tech, or proptech, scene is grabbing attention across the globe, as the $13bn (£9.4bn) US investment firm Varde Partners has today scooped a stake in venture capital firm Pi Labs, City A.M. can reveal.
A property management company is the latest to receive financial backing from the venture capitalists behind online agent eMoov.
AskPorter, an AI powered property management platform, has raised more than £500,000. The London-based business received the cash injection from David Newnes, the former executive director of LSL Property Services; James Caan CBE; and Fasial Butt.
We caught up with Faisal Butt, Founder of Spire Ventures and Pi Labs.
POD Management, which claims to be offering a different proposition, has received joint funding from Dragons’ Den star James Caan’s firm Hamilton Bradshaw and serial entrepreneur Faisal Butt’s Spire Ventures.
90 North has set a target to grow its total deal volume to $5bn (£3.8bn) in five years as the firm expands in Europe with the acquisition of two office buildings for €91m (£81m).
90 North has acquired the new EMEA headquarters of ASICS and the global HQ of Danone in the Netherlands with its joint venture partner Dubai-based Audacia Capital for a combined €91m.
90 North Real Estate has bought Exeter One, a student housing scheme next to the University of Exeter, from Chesterman Consultants for £18,575,000.
Property Innovation Labs (Pi Labs), an accelerator-turned-early-stage VC fund that invests in property tech startups ‘pre-Series A’, has closed a second fund of $10 million, from which it plans to make a total of 35 investments.
Israeli fund manager MiDeal Group has acquired the Volkswagen logistics centre in Kassel, Germany, from 90 North Real Estate Partners, for €52 million.
eMoov, one of a number of online real estate agents fighting it out in the U.K., has picked up £9 million in new backing. The round was led by consumer investment group JXC Ventures, with participation from existing investors Episode 1 VC, Maxfield Capital, Spire and Startive Ventures.
UK InsurTech startup Brolly has closed a £1m Seed round led by Valar Ventures and Pi Labs.
We are excited to kick off the fifth programme of the Pi Labs Accelerator!
Online mortgage broker Trussle is proposing that a new set of industry standards be introduced to the mortgage market, to offer consumers much-needed support with switching.
PropTech start-up Hubble has raised £1.2m as it looks to build the world’s first digital commercial property advisor. London PropTech start-up Hubble has announced that it has raised £1.2m in funding as it looks to build the world’s first digital commercial property advisor.