Realbest, the Germany-based operator of an online platform for real estate sales, has raised €7m ($8.3m) from investors including CommerzVentures, the strategic investment subsidiary of financial services firm Commerzbank.
The round also featured Investitionsbank Berlin (IBB)’s venture capital arm as well as VC fund Ventech, Hevella Capital and Immotech Venture.
Realbest runs an online marketplace for real estate sales, enabling buyers and sellers to find the best prices and providing access to a wide range of estate agents that can help them close the transaction. The funding will be used for product development and the expansion of its sales team.
Patrick Meisberger, managing director of CommerzVentures, said: “Realbest is a true problem solver for real estate agents. The strong team, in combination with a unique network approach to the market, convinced us. We believe that Realbest has found a superior, sustainable business model.”
IBB Beteiligungsgesellschaft, Ventech and Pluto Group invested an undisclosed sum in Realbest in mid-2015, and all three joined real estate investor Obotritia Capital and German Startups Group for another round of undisclosed size in February 2016.