Never before have Proptech companies in Germany, Austria and Switzerland been able to raise as much money as they did last year: 90 million euros flowed into real estate startups.
The Frankfurt-based company Blackprintpartners examined the financing situation of PropTechs—startups focused on digitizing the real estate industry. As a result, they identified 21 startups in German-speaking countries that were able to raise capital—a total of €90 million.
“The Proptech scene is slowly growing up”
According to the study, the financing volume in the industry has steadily increased since 2014. Compared to 2016 alone, it tripled. On average, startups raised 4.1 million euros per financing round.
"Financing volumes are still comparatively much larger in the US, for example. The corporate and venture capital culture is different there. Americans are fundamentally more open to new ideas. Nevertheless, our figures clearly show that more and more investor money is flowing into the proptech segment here, too."
says Alexander Ubach-Utermöhl, managing partner of Blackprintpartners. The number of later-stage financings has increased in particular, says Ubach-Utermöhl:
"This also proves that the proptech scene is slowly maturing. More and more tech companies are able to complete significant financing rounds."
The analysis finds a total of 368 PropTechs in German-speaking countries. Munich ranks second with 29 companies, behind Berlin (92). Vienna, with 26, has the third-largest number of PropTechs in German-speaking countries.
