Copenhagen-based startup Proper has raised €3M, thereby securing a total funding of over €7.3M. The round was led by investor 14Peaks Capital and Danish VC Alfa Ventures with the participation of several existing investors, including Danish VCs byFounders and Preseed Ventures, as well as prominent new angel investors such as Kim Baroudy (McKinsey), Christian Shin (EQT), Mads Ditlevsen (EQT), Nikolaj Kromann (Trackman) and others. The startup automates the manual processes of property management via their digital platform. With the new funding, the startup is targetting to accelerate its growth in the European markets, initially focusing on the Netherlands and Germany.
“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.”, says Proper’s CEO, Morten Krarup.
Proper’s long-term growth potential has attracted attention from investors across Europe. Especially the potential of being a global and scalable platform, as we know it from other industry-specific software solutions like Shopify, AirBnb and Hubspot, sparks interest.
“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 sector. Their platform can be scaled across European markets, making Proper’s potential huge. Proper puts the user and the people first, which is exactly what the real estate industry needs,” says CEO of ALFA Ventures, Anders Dalskov.
Proper is already present in the Danish and Dutch markets and will launch in Germany in the first quarter of 2023. By the end of 2023, Proper expects to have more than doubled the number of leases managed through its platform across international markets, making Proper a leading software solution for property managers in the European market.