Austria: Vienna-based proptech startup InovaReal, which seeks to digitise the entire process of renting, selling and investing in real estate, has announced that it has raised €250,000 in pre-seed funding.
60 per cent of the investment originated from European investors, including business angels in Slovakia, while the remaining 40 per cent came from US-based business angels.
InovaReal plans to use the fresh capital later this year to expand into Slovakia [before entering DACH region markets in the future like Germany and Switzerland] and develop a franchise network in the Gulf, including GCC countries such as Saudi Arabia, the United Arab Emirates, Qatar, Kuwait, Bahrain and Oman.
Founded in 2021, the digital brokerage solution enables customers to manage their properties anywhere in the world from their phones via an app. Supporting both B2B and B2C segments, InovaReal also allows users to view properties online, and complete and sign contracts directly through the app.
The company is currently working on functionalities such as digital signatures in line with European eIDAS standards.
InovaReal CEO Lukas Makovsky said: “Entering the Slovak market is a priority for us due to the fact that Slovaks are the so-called ‘early adopters’ in the field of technology. Like many large international companies, we see it as a great opportunity to get valuable feedback from enthusiastic users of new technologies.
“As the country is not large, we can adapt more quickly to the needs of the market. After this pilot project, we will move to the Austrian market or the DACH region,” he added.
The InovaReal portal offers a range of properties without “unnecessary” fees for real estate agencies, including holiday homes, apartments, flats, houses, garages and office spaces and premises.
The company is part of the StartUp House Austria community, which wants to become the ‘Silicon Valley of Austria’.