A property management company is the latest to receive financial backing from the venture capitalists behind online agent eMoov.
Israeli fund manager MiDeal Group has acquired the Volkswagen logistics centre in Kassel, Germany, from 90 North Real Estate Partners, for €52 million.The 90,300-square metre property, is leased to and operated by Rudolph Automotive Logistik, long-standing partners of Volkswagen.
90 North Real Estate has bought Exeter One, a student housing scheme next to the University of Exeter, from Chesterman Consultants for £18,575,000.
Property Innovation Labs (Pi Labs), an accelerator-turned-early-stage VC fund that invests in property tech startups ‘pre-Series A’, has closed a second fund of $10 million, from which it plans to make a total of 35 investments.
eMoov, one of a number of online real estate agents fighting it out in the U.K., has picked up £9 million in new backing. The round was led by consumer investment group JXC Ventures, with participation from existing investors Episode 1 VC, Maxfield Capital, Spire and Startive Ventures.
UK InsurTech startup Brolly has closed a £1m Seed round led by Valar Ventures and Pi Labs. According to TechCrunch, Entrepreneur First also took part via its £40m ‘Next Stage Fund’. Other investors in the round included Alan Morgan, chairman of MMC Ventures; Bruce Macfarlane, managing partner of MMC Ventures; Michael Mire, non-executive director of Aviva; and Christian Angermayer, founder of Apeiron Investment Group.
Online mortgage broker Trussle is proposing that a new set of industry standards be introduced to the mortgage market, to offer consumers much-needed support with switching. In a white paper published today, Trussle outlines five initial recommendations for a Mortgage Switch Guarantee, designed to address wide-scale ‘switching inertia’ and the issue of mortgage prisoners, both of which are costing UK mortgage borrowers billions of pounds every year.
Hubble, a London-headquartered a startup founded in 2014 to ride the coattails of the trend towards flexible office space, has picked up £1.2 million in new funding. Leading the round is Firestartr, with participation by 500 Startups, Maxfield Capital, and Concrete. The latter is a ‘proptech’ fund backed by Seedcamp and Starwood Capital and for which Hubble is its first tech investment.
London-headquartered real estate investment firm 90 North has cut the ribbon on its fourth global outpost with a new office in the heart of Sydney’s Central Business District. The investment manager has snagged space overlooking some of the Australian city’s most iconic attractions, including Sydney Harbour Bridge and Sydney Opera House, as it looks to capitalise on further opportunities in the Australian market.
Headed up by experienced real estate operator Michael Dowling, the property investment manager’s new office joins its London, Chicago and Kuala Lumpur outposts in its global network. Philip Churchill, Founder and Managing Partner at 90 North, commented: “We’re delighted to announce the opening of our downtown Sydney office.
“It will provide on-the-ground insight and access to the opportunities in the Australian real estate market that our investors have long been asking for. “With a strong and robust economy and fast-growing population, we’re excited about the investment opportunities that Australia will provide.”
The founder of one of the first online mortgage brokers said he expects the process to replace traditional advice as he outlined ambitious plans to expand the business.