Housy, a German platform that connects landlords and tenants for rentals, has raised more than €750,000 ($875,000 U.S.) in a seed round, Immobilien-Zeitung.de reported (in German).

Investors included BFB Brandenburg Kapital GmbH and the site’s founders Raymond Nassem (LinkedIn profile) and Sebastian Melchert (LinkedIn profile).

Courtesy of Housy GmbH

Founded in 2015 and based in Berlin, Housy lets property owners list and find tenants without the use of a realtor. It flips the rental model on its head — instead of tenants finding available rentals, landlords find and select available tenants.

On the site, prospective tenants complete a profile indicating their housing preferences. Personal data is anonymized as profiles are algorithm-matched to the criteria set up by landlords, who then contact tenants through the site. Tenants pay nothing for the service; landlords pay half a month’s rent for a successful rental.

Housy says its model reduces mass applications and viewings, which are common in Germany’s low-supply / high-demand rental market, and lowers the risk of a property standing vacant between tenants. It also says it lowers the cost to landlords, many of whom still rely on realtors to manage the marketing and contract process at a substantially higher fee. Housy is targeting rental property companies.

Deutsche-Startups.de reported (in German) Housy will use the fresh capital to expand to other German metropolitan regions from its base in Berlin. The site shows around 2,600 renter profiles but does not indicate how many property owners are customers or how many rentals it has facilitated.

At least one of Housy’s competitors is ImmobilienScout24, Germany’s largest property portal, which offers the “Published Profile” (Veröffentlichte Profile) tool whereby tenants post a profile on the site for landlords or rental agents to find them.

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