Wednesday, June 19, 2024

FinTech DoorFeed Secures €12 Million in Seed Funding To Institutionalise Residential Real Estate Investments

DoorFeed, a real estate technology company, founded by serial entrepreneur and early UBER employee James Kirimy, has raised €12 million seed funding from Motive Ventures, Stride, and Seedcamp. With this funding, DoorFeed plans to accelerate its growth to become the leading partner for institutional investors looking to deploy capital in the residential real estate market in its core French market and to prepare for its expansion across Europe.

The recent correction in property prices, the abundant demand of tenants and the lack of rental supply in most cities is providing an attractive investment environment for real estate investors. Many institutional players are also looking for solutions to shift capital from commercial to residential real estate. DoorFeed is ideally positioned to support the industry through this transition.

The platform builds and manages customized portfolios of apartments, houses and buildings leveraging its unique data, technology and on-the-ground operators. DoorFeed has built a full-stack servicing platform with a suite of integrated software dedicated to investment managers and their ecosystem (such as  tenants, builders, solicitors, accountants auditors). It has also assembled a network of hundreds of local operating partners who work on-demand throughout the entire investment lifecycle, from due diligence to renovation and the day-to-day management of tenants and properties.

Using a mix of artificial intelligence, machine learning, and its network of local partners, DoorFeed analyzes thousands of sources in real time, uncovering 100,000 opportunities every day in the European residential sector. DoorFeed then creates tailored portfolios of properties for institutional investors, handling everything from acquiring and renovating to managing their assets.

After supporting the launch of the first French Private Equity fund specializing in single-family residential properties earlier this year, DoorFeed now aims to advance its platform capabilities, grow its operations in France, and prepare its expansion across Europe.

James Kirimy, founder and CEO of DoorFeed, shares: “We’re on a mission to institutionalize the residential market across Europe by making it as easy to buy properties as it is to buy stocks to investment managers. We are focused on creating market-beating strategies with our clients and playing a leading role in addressing the housing crisis. The US market has been leading the way and investors are now looking to penetrate Europe. We are excited to welcome aboard the Motive team alongside our initial partners Stride and Seedcamp.“

Ramin Niroumand, Partner & Head of Motive Ventures sees great value in DoorFeed’s innovative solution: “We are thrilled to support the DoorFeed team in their mission to become the leading partner for all institutional investors looking to make sizable investments into the European residential real estate asset class. DoorFeed employs innovation to address market challenges and, in turn, solve tangible societal issues. This alignment perfectly resonates with our definition of value-driven innovation. I have strong confidence in James’ experiences and know-how and am looking forward to the journey ahead.”

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