Proptech startup Bambus has raised an undisclosed “seven-figure sum” in a funding round led by Calm/Storm, i5invest, Tenity Group, David Savasci, Nikolaus Stadler and Jerome Balladur.
With offices in Vienna and Munich, Bambus (which means “bamboo”) describes itself as “based in Austria and Germany.”
Founded in 2018 by Franz Hoerhager (LinkedIn profile) and Sebastian Pfisterer (LinkedIn profile), the company enables home owners to sell a partial share in their property.
According to its website, “Bambus (the buyer) will pay you the value of the sold share and will be entered in the land register as co-owner of your property. In everyday life, practically nothing changes for you. You continue to live in the property and can buy back the sold share at any time. You can also obtain the entire sale of the property at any time.”
“Bambus charges you a clearly defined and fair user fee for using the sold share.” This is based on local market rents. The company charges an additional fee when the contract is terminated.
“We are solving one of the biggest problems facing private property owners. Owning your own home has always been a good precaution, but it cannot simply be divided up and made liquid if necessary. Wealthy property owners therefore often lack liquidity if the property is not to be sold as a whole,” said CEO Hörhager.
The company said its plans to use the funds from the investment to accelerate its growth, expand its product range and increase its marketing.