DoorFeed raised €7 million for its platform to buy family homes for huge investors. Historically, it has been difficult for institutional real estate investors to acquire a large number of family homes, or the so-called “Single Family Rental Sector,” to enslave us all to rental slavery and lock millions of people into a rentier economy. A few new businesses are trying to lessen the “pain” these greedy prophets of hypercapitalism have caused.
Immo Capital, a platform for managing residential real estate portfolios, has raised $90.7 million. Another platform for rental homes is Bricklane, which garnered £6 million outside of London. Furthermore, Casafari in Portugal and Spain has raised $20.5 million.
James Kirimy, a former employee of Uber UK, developed DoorFeed and entered this sector. It has completed a €7 million seed extension round of fundraising, headed by Motive Ventures and including participation from Stride VC and Seedcamp. The private equity firm Apollo, which owns Yahoo! and TechCrunch, funds Motive Ventures. The company had previously received €1.5 million in debt financing from BPI France in 2022 and €3.5 million in startup funding from Stride and Seedcamp in 2021.
Simply put, DoorFeed gives investment firms the operations and data platform they need to build and manage extensive portfolios of homes and flats. According to the statement, it also enables companies to identify which homes have poor energy efficiency and potentially rehabilitate them to earn government-issued ESG credits.
In addition to an annual property and asset management charge, it generates revenue from sourcing and renovation management fees. When examining the market on its own, these businesses are obviously onto something that would make a manager of a hedge fund blush.
According to JLL, investments in European living assets topped all other real estate asset classes in the second quarter, totaling €10.6 billion. Buy-to-let investors account for 20% of this market.