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Press Release
Hamburg/Munich – Yoom.de has raised further growth capital from Earlybird Venture Capital. The innovative online platform for tenant-to-tenant residential real estate transactions received seed financing from angel investors in spring 2009 and has now raised a further medium single-digit million Euro amount following its successful market entry.
Yoom.de enables current and new tenants, landlords and asset / facility managers to efficiently execute the tenant changing process without involving real estate agents, whilst at the same time providing an economic benefit for all parties by revolutionising the value chain.
Dr. Christian Nagel, Managing Partner at Earlybird Venture Capital, comments: “Yoom.de is an innovative business model with the potential to eliminate a market inefficiency – namely high real estate agent commissions without agents providing a noticeable service or value-ad in return. The first transactions on the platform have proven that the model offers significant advantages not only to previous and subsequent tenants, but also to landlords and asset / facility managers compared to the estate agent-model. We are very convinced of the business idea.”
Malte Niebuhr, Managing Director at Yoom.de, is delighted: ”Earlybird Venture Capital is a high-class investor who has already very actively supported us during our start-up phase and continues to do so in the growth phase we are now entering and very much looking forward to.”
About Yoom.de
How does Yoom.de work? Tenants who want to move out of their existing apartment can create an exposé for free on Yoom.de. Tenants furthermore state the value of any furnishings, installations, etc. in addition to their anticipated expenses associated with moving out of the apartment. Persons looking for a new apartment can browse these offers, choose their favourite apartment and arrange for a viewing appointment directly on Yoom.de. If they are interested in the apartment, the persons provide selected income and personal information and are then allowed to enter a bidding process to determine the next tenant of the apartment. After the bidding process is completed the relevant information regarding the highest bidders is forwarded to the landlord or manager who then chooses the new tenant. The amount of the winning bid is then paid out to the previous tenant of the apartment. Yoom GmbH was founded by Malte Niebuhr, Christian von Ahlen, Jan Hendrik von Ahlen, Martin Schmidt und Andreas Ramm in July 2008 and went live in December 2009. Further information is available at www.yoom.de.
About Earlybird
Earlybird Venture Capital is one of the most successful European venture investors. Currently, Earlybird manages over 430 million Euros of assets for an international investor base. Earlybird invests in innovative, fast growing companies with outstanding management teams and high growth potential in international markets. Earlybird’s portfolio currently includes more than 25 companies in seven countries (Austria, Germany, Italy, Netherlands, Switzerland, UK and USA). Since its inception, Earlybird has invested in over 70 companies. Besides several successful trade sales (i.a. amaxa to Lonza and Alantos to Amgen), Earlybird has led six companies to an IPO at four different European exchanges (Interhyp, Tipp24, Wilex, Esmertec, Entelos, and NoemaLife). Further information is available at www.earlybird.com or follow us on Twitter: EarlybirdVC or become a fan on Facebook.
Further information
modes@earlybird.com
Earlybird Venture Capital
Maximilianstr. 14
80539 München
Telefon: +49 89 290702-0
Fax: +49 89 290702-22
www.earlybird.com
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