ALFA Ventures invests in proptech comet Proper
ALFA Ventures was established last year with the aim of contributing to a transformation in the property industry towards a more sustainable, user-oriented and digital future. The second investment of the year now goes to Proper, which automates the work of residential landlords in managing tenancies and communicating with tenants.
Proper was founded by Morten Krarup and Jacob Funch in 2017 with a mission to rethink the long-term property rental industry and create the best possible experience for both landlords and tenants. The platform is currently used to manage +9,000 leases for close to 1,000 customers. Via advanced software, Proper handles all aspects of letting and automates all tasks associated with housing administration. This applies to both collection and reconciliation of rent, rent adjustments, accounting, contracts and much more.
ALFA Ventures and 14Peaks Capital led the funding round, which also includes byFounders and Preseed Ventures. With new funding secured, Proper's goal is to conquer the European market, initially the Dutch and German markets.
“Proper's digital solution has the potential to significantly streamline the long-term rental market. They use modern technological solutions that are already widely used in other industries, but are completely new in the real estate industry. Their platform can be scaled across the European markets, making Proper's potential huge. With a stated mission to create the best possible experience for landlord as well as tenant, Proper shows the will to put the user and the people first, which is exactly what the real estate industry needs. We are proud to have had the opportunity to support Proper and look forward to scaling the platform together with the strong team of employees and investors,”
- CEO of ALFA Ventures, Anders Dalskov.
“Property management is probably one of the last industries to be digitized. In almost the entire European market we see landlords handling their processes manually or using IT solutions that were developed in the 90s. Our product automates the day-to-day tasks of landlords. A disruption the industry truly needs,”
- Proper CEO, Morten Krarup.
ALFA Ventures aims to invest €20 million in start-up companies over the coming years. Just two months ago, ALFA Ventures invested in Captego, whose platform simplifies and improves the quality of the important inspection process. The portfolio also includes Stykka, which has digitized the entire process for the design, production and sale of kitchens and built-in fixtures, Wise Home, which generates automated consumption accounts and data-driven insight into properties, and Nextfood, which works with vertical farming, which can reduce the environmental impact of farming with +95%. In 2019, ALFA Development contributed to the establishment of PropTech Denmark, a non-profit organization with a mission to promote innovation, technological development and digital transformation within real estate.
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