PropTech startup Seniovo receives further funding of 2 million euros
Berlin — PropTech startup Seniovo is now raising a further €2 million in Series A growth capital following its seed round in October 2018. PropTech1 Ventures and IBB Beteiligungsgesellschaft are lead investors. Seniovo accompanies persons in need of care along the entire process of age-appropriate and barrier-free conversion measures of their apartments or houses.
Due to the positive momentum — for example, Seniovo achieved sales growth of over 250% (Q1 2018 to Q1 2019) — all existing lead investors of the seed round, i.e. the venture capital fund PropTech1 Ventures, which specializes in innovations in the real estate industry, IBB Beteiligungsgesellschaft and the German Media Pool with its print media partners, are participating again. New investors in the round include other real estate entrepreneurs with relevant care expertise.
The issue of demographic change in society and the corresponding increase in the need for care is one of the key social challenges of our time. Today, 18 million inhabitants of Germany are already 65 years and older. 3 million people in this country are in need of care. By 2060, seniors will make up one-third of Germany’s population. Seniovo’s goal is to enable a steadily increasing proportion of people in need of care to remain in their own homes.
As a one-stop contact, the Berlin PropTech startup offers target-group-specific advice on its online platform www.seniovo.de and digitizes the entire application and implementation process, including the implementation of the measures on site with its own craftsmen or the mediation of certified partners. In many cases, persons in need of care do not have to make any additional payment of private funds in this regard. For example, Seniovo’s success rate in submitting grant applications for those in need of long-term care is 95%. Seniovo has already been able to help more than 500 people successfully rebuild their homes.
Anja Rath (photo), Managing Partner of PropTech1 Ventures, comments on the renewed investment decision: “Seniovo is one of the very few startups that promises both an economic and a social return. We are pleased to once again contribute to its further development with a strong syndicate of co-investors.”
Jonathan Kohl, CEO & Founder of Seniovo, adds: “With the freshly raised growth capital, we want to open up further regions as well as launch new products. Most importantly, further digitization of processes and expansion of our B2B business will also further increase both growth and efficiency.”
A group of entrepreneurs led by real estate expert Marius Marschall and the COOPERATIVA Venture Group has taken on the task of acting as a sector-specific VC to provide the most promising European PropTech startups with capital, even in their early stages, and to foster strategic partnerships and synergies through a tightly knit network into the traditional real estate industry.