Berlin, Germany-based home financing startup Justhome raised EUR 3.3 million in the latest funding. The pre-seed financing took place on August 31, 2022. Target Global led the round for the company. Meanwhile, an early-stage fund backed by digital publisher Springer and Porsche, APX, as well as a number of angel investors, joined in the investment.
Purpose of funding for Justhome
With the fresh proceeds from the pre-seed round, the company intends to further build out Justhome’s digital home financing platform.
It also seeks to develop its own financing solutions. The company competes in the German market with EUR 1.49 trillion mortgage volume.
What the co-founder has to say
Commenting on the latest pre-seed round, the company’s CEO and co-founder, Johannes Fenner, said, “Nine out of 10 Germans below the age of 30 want to own a home in the future, an even stronger trend post-COVID. We are determined to provide financial solutions to help this generation become homeowners in a way that is convenient and native to them: digital and self-driven.”
What the investor has to say
Ricardo Schaefer, the partner at Target Global, said, “We have increasingly observed the global appetite for more customer-centric and innovative home financing solutions. With Justhome, we found an extremely ambitious team that is really looking to shake up the market to address that demand. We are excited to be part of this journey, which has only just begun.”
About the company
Marc Rustige, Johannes Fenner, and Martin Mehlitz brought the company into existence in 2022. Justhome offers aspiring homebuyers rates from more than 700 lenders. Besides, it provides a digital platform to steer them to completion. The company offers personalized financing solutions. It explicitly targets first-time buyers. The Berlin-based company provides the customer with the ability to receive pre-approved mortgage options delivered in minutes. Currently, it employs a team of 15 professionals.
About Target Global
Alex Frolov and Yaron Veller brought the company into existence in 2012. It is based in Berlin, Germany. The European technology investment firm has more than EUR 3 billion in assets under management. So far, the venture capital firm has backed 15 unicorns. Target boasts a global presence with six offices around the world. It has investing offices across regions such as Berlin, London, Tel Aviv, and Barcelona.
Its diversified portfolio includes companies such as Delivery Hero, Revolut, Auto 1 Group, Copper, Rapyd, Wefox, Flink, Cazoo, and many others.
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