Hamburg, August 1st, 2019—OWNR, a pioneer of residential leasing in Germany, has now secured financing in excess of four million euros since inception. The Hamburg-based company has sourced this investment through private investors, including the founders and management team, and recently closed final seed financing from Berlin based Atlantic Labs.
With Atlantic Labs, the startup has teamed up with one of Europe's leading early-stage investors. Also participating in the financing is the UK leasing and private equity expert Jon Walden, who joins OWNR's board as non-executive chairman from July of this year. Since February 2019, the team around Nils T. Kohle and David Raabe has also been able to draw on the expertise of financial specialist Sandeep Agarwal, who joined as Group CFO. Agarwal has over 20 years of investment banking experience in EMEA capital markets. Prior to joining OWNR, he last served as Credit Suisse's Chairman of Debt Capital Markets Solutions Group, where he was responsible for wide ranging debt transactions raising c. 950 billion euros across global markets.
“Our end-to-end technology is reshaping the increasingly difficult path to home ownership for an entire generation,” says Nils T. Kohle, founder and CEO of OWNR. “The German real-estate market is characterized by a limited supply and a very high demand for rental properties. Our aim is to increase supply by leasing properties available for sale with an option to buy at a pre-determined price. The customers identify their ideal home and configure bathroom and kitchen renovations on our digital platform. OWNR then purchases and refurbishes those properties allowing customers to enjoy the living experience of a new home while they get ready to become OWNRS! Our business model sets a new trend and offers an innovative solution to what is an extremely difficult situation in residential markets across all major cities.”
“Technology is changing many sectors for the better, and property is no exception. The company’s business model will help many tenants towards owning a home,” adds Christophe F. Maire, founding partner of Atlantic Labs. “We are very pleased to be supporting one of the most experienced teams in the European proptech scene.”
OWNR plans to acquire up to 1,000 properties by the end of 2020 in order to meet the rapidly growing demand for residential leasing in the years to come. To this end, the startup will be raising additional capital over the next few months in order to underpin further property purchases and company growth.
OWNR is a meta-search platform for residential leasing that helps customers move in to their dream property quickly and easily. The company’s innovative business model purchases properties and transfers them to the rental market, giving large numbers of lessees a unique living experience with the chance to own the property in the medium term. OWNR's proprietary technology platform allows customers to select their desired property from the entire portfolio of the Hamburg property market, have it renovated to their individual specifications, and then lease it. At the end of the lease, the property resident has three options: Extend the lease, buy the property, or move out. The company was founded in 2017 by Nils T. Kohle and Roland Wenidoppler and is currently active in the Hamburg area.