
Shared 3 February, 2024
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Berlin-based Hallo Theo, a property management company, announced that it has secured €10M in a Seed Round led by Insight Partners.
The German company will use the funds to accelerate its growth and expansion, across Germany.
“There are more than €29T worth of apartments in Germany, yet the average experience of an owner or tenant is underwhelming. Solving a problem of that scale drives our team to excellence every day. Today’s technology will enable us to transform the way real estate is managed and dramatically improve the lives of millions of people, ” says Jona Schaeffer, founder and CEO of Hallo Theo in a LinkedIn post.
Previously, the company secured €1.5M from notable business angels such as Dustin Figge (Homelike) and Patrick Henning (Luca).
Hallo Theo: Digitising property management
Jona Schaeffer (who sold his hospitality tech startup Charly) founded Hallo Theo in 2023 after experiencing inefficiencies in property management (piles of paperwork, fragmented communication, and outdated processes) in his Berlin rental apartment.
“Everything was inefficient, cumbersome, and outdated in many ways,” says Schaeffer in an interview with Business Insider.
Consequently, he has come up with a solution that automates commercial processes and improves communication between owners, tenants, and administrators.
Hallo Theo’s business model, inspired by solar provider Enpal, goes beyond software. It acquires entire property management firms, integrating them into its digital platform within weeks.
We buy the companies, integrate them into our platform, and make them completely digital in a few weeks,” says Schaeffer.
Additionally, the company claims that its AI-driven system reduces administrative costs and speeds up processes, improving overall efficiency.
Richard Matus, Principal at Insight Partners, remarked: “We were impressed by what Jona and the hallo theo team have accomplished over a short period of time, and their commitment to a larger vision. With their application of technology and AI to a large market in desperate need of innovation, hallo theo is poised to solve a problem that impacts the lives of millions, if not billions, of people in the world.”
With offices in Berlin, Hamburg, and Frankfurt, the company aims to expand across Germany by 2025.
At present, the company now manages over 9,000 apartments and grows by more than 30 per cent every month.
About hallo theo
hallo theo is a Berlin-based tech-startup in property management. The company uses technology and AI applications to transform the property management service, aiming to improve every aspect of the customer experience.
About Insight Partners
Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of September 30, 2024, the firm has over $90B in regulatory assets under management. Insight Partners has invested in more than 800 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and the Bay Area. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with tailored, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com.
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