Apartment investment platform Protio raises 2 million euros to boost the real estate sector in Greece
Greek company Protio has raised €2m to fund its apartment investment platform to boost the real estate sector in Greece and beyond. Led by Neogen Capital, the pre-seed round saw participation from international and Greek investment funds. Lars Rasmussen, angel investor and co-founder of Google Maps and Genesis Ventures and Seedblink, the crowdfunding platform also participated in the round along with twenty other angel investors, from Greece, Germany, Switzerland and India.
In a time when we are all rushing towards a net zero world, turning old houses into sustainable energy apartments with a minimal carbon footprint introduces a new kind of sustainability.
Founded in 2021, the proptech platform’s “Rebuild-To-Rent” model responds to the housing crisis in Europe. Protio modernizes old apartments by using state-of-the-art technologies to renovate them and make them energy efficient.
The company claims that landlords can list their apartments for sale and receive an offer from Protio in just 24 hours. At the same time, individuals can also invest in apartments and secure new income, seamlessly, hassle-free and digital-first. The apartments available on Protio are off-market and exclusively accessible via the platform. After concluding the rental agreement, Protio manages the apartment, guaranteeing the investor’s income for the first year. The platform also gives real estate agents a new channel to conduct more home transactions.
The startup first made inroads in Athens and now plans to expand to other cities.
Antonios Fiorakis, CEO of Protio, said, “The problem we aspire to solve with Protio affects the lives of millions of people every day. Through this new adventure, we want to help local communities, while contributing to the urban regeneration of our cities.
Calin Fusu, Partner at Neogen Capital, added, “This company has a socio-economic footprint and holds so much promise for the future of Athens and our cities around the world. Protio is our first investment in Greece and we are delighted to meet such a strong team that will provide an absolutely new future for the real estate sector.