DLA Piper advises Surplus Invest on investment in IMMO Investment Technologies

DLA Piper has advised German venture capital firm Surplus Invest on an equity investment in the London-based fintech startup IMMO Investment Technologies. The investment which was part of a series A financing round that raised EUR14 million in total, will be used to further expand IMMO’s business into the UK and Germany. The financing round was led by Talis Capital and also included HV Holtzbrinck Ventures.

IMMO buys residential properties directly from consumers on behalf of professional investors, refurbishes these properties and puts them on the rental market as part of a fully managed package. The company uses proprietary machine learning technology that combines property level data with millions of environmental data-points such as traffic nodes and distance to supermarkets to come up with an offer price for the seller. This allows IMMO to buy properties at scale directly from sellers and opens up single unit residential real estate as a new asset class for institutional investors.

Surplus Invest is a Munich-based early stage venture capital firm with a focus on PropTech and ConTech investments in Europe. Surplus Invest partners with outstanding tech-entrepreneurs and teams who strive to fundamentally change the real estate industry.

The DLA Piper team was led by partner Simon Vogel and included senior associate Michael Rebholz (both Private Equity/Venture Capital, Munich). In Luxembourg, advice was provided by counsel Ambroise Foerster (Corporate).