Seniovo, Germany's first one-stop solution for barrier-free reconstruction, receives further financing of 2 million euros
PropTech1 Ventures and IBB Beteiligungsgesellschaft are Lead Investors
Seniovo achieves annual revenue growth of over 250%
Seniovo has already been able to help over 500 people in need of care to stay in their homes
Berlin, 25 July 2019 - The PropTech startup Seniovo, which accompanies persons in need of care along the entire process of age-appropriate and barrier-free reconstruction of their apartments and houses, receives a further 2 million euros of growth capital in a Series A financing round following the seed round that was signed in October 2018.
Due to the positive dynamics - Seniovo achieved an annual growth in revenue of over 250% (Q1 2018 to Q1 2019) - all existing lead investors of the seed round, i.e. PropTech1 Ventures, a venture capital fund that focuses on innovation in the real estate industry, IBB Beteiligungsgesellschaft as well as the German Media Pool with its print media partners, will participate again. Other real estate entrepreneurs with relevant expertise in the care sector join as new investors.
The issue of an ageing society and the corresponding increase in the need for long-term care is one of the central social challenges of our time. Today, almost a billion people worldwide are 60 years and older, while this number will rise to 2 billion by 2050. About 50% of these people will need some type of long-term care. Seniovo pursues the goal of enabling a steadily increasing proportion of those in need of care to remain within their own four walls.
The Berlin-based PropTech startup, as a one-stop contact, offers target group-specific advice on its online platform www.seniovo.de and digitalizes the entire application and reconstruction process right through to implementation of the measures on site with its own craftsmen or the procurement of certified partners. In many cases, persons in need of care do not have to make any additional private payment. Seniovo's success rate in applying for subsidies for people in need of long-term care is 95%. Seniovo has already helped more than 500 people successfully reconstruct their homes.
Anja Rath, Managing Partner of PropTech1 Ventures, comments on the new investment decision, "Seniovo is one of the very few startups that yields both an economic and a social return. We are delighted to once again be able to make a contribution to further development with a strong syndicate of co-investors.“
Jonathan Kohl, CEO & founder of Seniovo, adds, "We want to enter new geographical regions as well as launch new products, using the freshly raised growth capital. Above all, further digitalization of our processes and expanding our B2B business will increase our growth trajectory and efficiency.“
PropTech1 Management GmbH
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