Flashpoint participates in series A round of Austrian PropTech company iDWELLOctober 28, 2021 1:56 pm
Vienna, October 2021: 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 — 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, the 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.