A new funding round of €7 million has been secured by DoorFeed, a platform founded by James Kirimy, an early Uber UK employee. The seed extension round was led by Motive Ventures, backed by Private Equity firm Apollo, with the participation of Stride VC and Seedcamp. The previous seed funding round in 2021 raised €3.5 million, led by Stride and Seedcamp, and a €1.5 million debt financing was provided by BPI France in 2022.
Key Takeaway
DoorFeed secures €7 million in funding for its platform, enabling institutional investors to efficiently manage and acquire family homes. The company’s data-driven approach and focus on energy performance renovation contribute to the growing opportunities in the European living assets market.
DoorFeed: A Solution for Institutional Real Estate Investors
DoorFeed addresses the challenges faced by institutional real estate investors in acquiring large numbers of family homes for the single-family rental sector. The platform serves as a data and operations hub for investment funds, enabling them to assemble and manage portfolios of apartments and houses. Additionally, DoorFeed offers insights into energy performance, allowing investors to identify properties that require renovation to potentially unlock ESG (environmental, social, and governance) credits from governments.
The company generates revenue through various fees, including sourcing fees, renovation management fees, and annual property and asset management fees.
Other Players in the Market
DoorFeed is not alone in its pursuit of revolutionizing the residential real estate investment market. Several other platforms have emerged to cater to this demand. Immo Capital, for example, recently raised $90.7 million, while Bricklane secured £6 million funding mainly from investors outside London. Casafari, operating in Spain and Portugal, raised $20.5 million.
Growing Opportunities in the European Living Assets Market
The increasing investment in European living assets has outpaced other real estate asset classes. According to JLL, investment in this sector reached €10.6 billion in the second quarter of the year. Notably, approximately 20% of the market consists of buy-to-let investors.
