In the June announcement of the plan to invest in real estate technology PropTech start-ups up to 15 million. Euros. Today, Civinity announces that it has already concluded its first investment transaction and has accurately invested in the British start-up Halo.rent.
Through its controlled investment management company Pentaframe Capital, the company invested in the start-up at an early stage of the investment. Prior to Civinity’s investment, Halo.rent had already attracted 1,45 million from the European Commission as well as investors.
“The UK is Europe’s largest market for PropTech, so the solution should have just started here. It was completely natural. Halo.rent’s choice for their innovative product and potential, which can be seen when starting the team.” – says Deividas Jacka, Chief Executive Officer of Civinity group.
Halo.rent, which has teams in London and Vilnius, is developing a platform that allows real estate agents and large real estate managers to conveniently administer all new residential real estate processes in one place: request processing, collection of deposit and reservation fees, conclusion of contracts, collection of rent and installments, etc. The platform is also targeted at aid tenants to facilitate their country-level solutions and communication with the real estate manager, utilities and other service providers.
“Getting an investment from Civinity also has them as strategic partners – the best validation of our business and products.” – says Kipras Gajauskas, CEO of Halo.net.
It has recently been announced that Civinity has entered the UK building engineering market, with one of the companies signing a contract to install engineering systems for commercial buildings in the East London multifunctional quarter.
“We won the tender for the installation of engineering systems in the UK and we continue to plan to expand our building maintenance and engineering solutions business in this market. The investment in Halo.rent proves once again that Civinity’s development plan in one of the largest markets in Europe is serious.” – commented D. Jacka.
Civinity is one of the largest building maintenance and engineering solutions groups in the Baltics. The company brings together more than 20 companies that oversee 10 million square meters residential and commercial buildings and several thousand engineering systems skirts have been installed in European cities. The Civinity team has 1 500 employees in Lithuania and Latvia.