Germany-based online property broker Homeday has raised €20m ($22.8m) in debt and series B equity financing from real estate portal Purplebricks, media group Axel Springer and venture capital firm Project A.
Axel Springer and Purplebricks invested through a joint partnership vehicle set up for the deal, according to Reuters, which reported they would jointly acquire a 25.9% stake for approximately $29.4m along with an option to increase their stake to 54.4% with another €20m in August 2019, though Homeday did not confirm that report.
Founded in 2014, Homeday runs an online platform that allows customers to buy and sell properties in 65 German residential markets. Purplebricks, which operates in the UK, US, Canada and Australia, will supply strategic assistance along with its investment.
Purplebricks and Axel Springer will each take a seat on Homeday’s board of directors. The company had closed a 2016 series A round sized in the seven-digit dollar range that included Project A and Paua Ventures. Its early backers include Monkfish Equity and Vito One, the latter of which exited in the latest round.