Finnish proptech startup Rive receives €23M in a series A round
The Helsinki-based Rive that provides an end-to-end solution for buying and selling homes has received €23 million in a series A round to expand internationally. The investment was led by IDC Ventures, Silicon Canals reports.
- Founded in 2017 by Kalle Salmi, Rive develops an AI-powered real estate services platform with a mission to make buying and selling homes more accessible. The platform offers hassle-free solutions for all stages of home-switching from real-time market insights to instant cash offers, and renovation services.
“At times of economic uncertainty and declining housing prices, our ability to provide liquidity and real-time understanding of the market becomes critical are dedicated to positively impacting the world,”Kalle Salmi, founder of Rive claims.
- Currently, Rive has 8 offices in Finland, Spain, Poland, and over 300 professionals in its team. To date, the company has sold over €300 million worth of real estate annually, and acquired four real estate agencies and two rent-to-own platforms.
- The round was led by an international VC fund IDC Ventures focusing heavily on offline to online innovation in fintech, marketplaces, and platforms in Europe, the US, LATAM, with participation from existing investors.
- Rive will use costs to develop M&A strategy, to accelerate organic and inorganic growth in Europe.