Property Management Solution - RoomMate Raises €600k, LBAN follow-on round

RoomMate announced the closing of its second equity round of EUR 600,000, January 2021, from LBAN, a pool of private visionary business angels and real estate experts.

RoomMate is a client-centric PropTech with two scalable platforms that digitises and automates the processes for mid-to-long-term rental management, with an app called Places for tenants and a SAAS platform called Estelle for landlords.

The closing is a strong signal with regard to RoomMate’s growth ambitions, strengthening its position in the real estate IT sector at a European level, by offering consumers a fully integrated solution for their Property Management processes.

This fundraising round will enable RoomMate to accelerate the digital transformation of the real estate ecosystem through its scaled R&D capabilities and flexible company structure. The round also allows the team to introduce a Channel Manager, opening new options to RoomMate and its customers, including the strong listing rating tool.

International real estate players like SpotaHome, UniPlaces, and HousingAnywhere are already official partners, having actively worked with RoomMate in 2021 in the sharing of the methodologies and customers’ feedback for products development and fine-tuning

By accelerating and optimizing landlords’ workflow through the solutions, there has been a 92.8% occupancy rate in the last year with an average of EUR 2 million in collected rent.