Evernest, a German proptech company, has closed a €13M Series A financing round. According to the proptech startup, it has developed a technology platform for real estate agents to make the entire process of residential real estate transactions more efficient.
This round was led by New York City-based Prudence. It was joined by Madrid-based Kibo Ventures and Bonsai Partners alongside existing investors Project A and APIC.
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Fund utilisation
While the real estate sector is often classified as a traditional industry, the emergence of proptech companies like Evernest are redefining the industry. They are bringing innovation to the real estate sector with digital real estate management and marketing platforms. Evernest plans to use the capital to accelerate its technology platform development.
The €13M Series A financing round follows the €6M seed financing round closed by the company in March 2021. It says the new funding will also help expand its platform in Germany as well as in international markets. The technology platform developed by Evernest acts as an end-to-end brokerage platform to improve the residential real estate transaction process for buyers, sellers and agents.
The company’s digital brokerage platform, marketing services, agent training and support processes are powered by more than 100 people working in Hamburg and Berlin.
“The new capital will enable us to expand our technology platform while rapidly entering new markets in Germany and throughout Europe,” says Christian Evers, founder and CEO of Evernest.
Evernest: what you need to know
Evernest was founded in November 2019 by Christian Evers, a former Engel & Völkers Board Member, and Luisa Haxel, who led Engel & Völkers digital strategy. Stefan Betzold, a former digital managing director at Axel Springer, joined Evernest in early 2021 as the third member of the management team responsible for Product and Technology. The company makes it extremely easy to buy a new apartment or sell a home in Germany.
As a PropTech company, it does not rely on the property alone to evaluate the value but also uses the right technology. Evernest says the personal experience of the company and its data analysis go hand in hand while buying or selling a property on its platform.
. Evernest also offers access to experienced real estate agents in locations such as Hamburg, Berlin, Düsseldorf, Cologne and Frankfurt.
Evernest brings brokers and customers together on a holistic digital service platform and relies on comprehensive object and market data, machine learning and analytical recommendations for action. The company claims that its digital platform empowers its agents to provide simple, well-founded and individual customer advice.
Investors
Prudence is one of the top global early-stage VC in Proptech. The VC firm will help Evernest with valuable guidance on product capabilities and geographical expansion. Prudence was one of the early investors in the American Proptech company Compass, which went public in March 2021.
Gavin Myers, Founder & Managing Partner of Prudence, says, “We are delighted to invest in Evernest and partner with Christian, Luisa and Stefan. In Evernest we see an enormous opportunity to drive digital transformation in the residential real estate transaction, commensurate with the opportunity we saw in Compass in the US and Properly in Canada.”
“The European market still lacks innovations that we see in other international markets in proptech but have the same demand for digitally native solutions creating superior capabilities and a more streamlined home transaction experience,” Myers adds.
Kibo Ventures is one of the leading investors in Southern Europe and has a proven track record of supporting teams in their international expansion. Alongside investor Bonsai Partners, Kibo Ventures will help Evernest expand into Spain and other Southern European markets.
“We are very excited to support the Evernest team’s expansion into Spain and other European markets where we see their business model can fully scale,” says Sonia Fernández, Partner at Kibo Ventures.
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