Dutch-based AI-powered real estate valuation platform has raised $33 million in Series B funding led by Index Ventures. PropTech is a market we are bold on, ranging from mortgages such as Trussle, Real Estate investment transformation (e.g. Brickblock), Tenant/Landlord software (e.g. Goodlord) etc.
Corporate real estate (CRE) appraisals are fraught with peril — not to mention subjectivity. The average gap between a standard estimate and the actual sale price is 5 percent to 6 percent in the U.S. and U.K., with a median error of as much as 15 percent. And the process drags on, with the average asset valuation taking roughly a month and often costing a tidy sum — usually between $4,000 and $6,000. The ridiculous status quo motivated former architects Teun van den Dries and Sander Mulders to found Geophy, a real estate appraisal platform that taps artificial intelligence to suss out properties’ true market value. The Delft, Netherlands-based startup today revealed that it has raised $33 million in a Series B financing
