As technology is taking over the world, real estate professionals are increasingly aiming to build a solid digital foundation for their businesses to optimise their processes, enhance user experiences and differentiate themselves.
Based out of Luxembourg, kodehyve has identified major process-related pain points in the real estate market and plans to solve them through its platform.
kodehyve aims to remove inefficiencies and increases transparency in real estate project planning, construction, transactions, and property management.
Recently, the proptech startup Kodehyve has raised €1 million (approx £860 million) funding in a seed round.
UK: a major focus!
The funding was raised from a group of experienced investors in Luxembourg and Singapore: Laurent Schonckert (CEO of Cactus), Frank Veyder (former investor and COO at Slightly Mad Studios), John Li (former Managing Partner and Chairman at KPMG), Eric van de Kerkhove (former Partner at Deloitte), Benoit Schaus (former Partner at Deloitte), Bruno Beernaerts (former Managing Director at Capita and Partner at Deloitte), as well as PE and real estate investors Robert Godart and Charles Sunnen.
The company aims to deploy the fund towards developing its real estate collaboration tool. Part of the fund will be used for expansion into new European markets – especially the UK, with a focus on London.
Digitalisation of real estate
Founded in 2020 by Felix Hemmerling and Julien Casse, Kodehyve helps real estate developers, agencies, and funds to more efficiently plan, manage and analyse their construction and commercialisation projects.
With in-house modules and third-party APIs, the company enables real estate professionals to work better in the three areas — project management, customer relationship management, and financial and data analysis.
With the white-labeled platform, customers have access to task and deadline management, information and document exchange flows, customer onboarding, e-signatures, KYC and AML checks, billing, live chat, budgeting, financial analysis, and more.
At present, the team consists of seven software engineers and product specialists. They are planning to have twelve employees in the coming year.
“We live in the year 2021 and real estate still largely relies on outdated processes. From lengthy email exchanges to physical mail and phone calls, the real estate market is lagging at least 5 to 10 years behind the financial industry when it comes to digitalisation and the general use of powerful solutions. Our vision is to make the real estate market 100% digital, and we know it is possible.” – Julien Casse, Co-Founder & CTO of kodehyve
“We are extremely proud to have such a valuable team of experienced investors on board – all of which know the real estate industry very well and have the necessary know-how and network to help us accelerate our activities. Learning a lot from our customers, it was important for us to stay independent in this first private equity round and not to raise funds with real estate organisations.” – Felix Hemmerling, Co-Founder & CEO of kodehyve.