Rive (formerly Kodit.io), a Helsinki, Finland-based real estate services platform, announced that it secured €23 million in a Series A funding round led by IDC Ventures with participation from existing investors.
The funds will be used to develop and scale its integrated real estate services platform for buying and selling properties, including instant cash offers, tech-enabled real estate brokerage, and rent-to-own.
“We are very excited to partner with IDC Ventures to help us in our ambition to radically improve the consumer experience in the housing market and help millions of people to change their lives and properties,” says Kalle Salmi, founder, and CEO of Rive. “With this fresh funding and a new brand, we are ready to accelerate organic and inorganic growth in Europe.”
“During times of economic uncertainty and declining housing prices, our ability to provide liquidity and real-time understanding of the market becomes crucial. There is a rapidly increasing demand for our services, and we are dedicated to positively impacting the housing market one transaction at a time,” Salmi continues.
To date, the real estate platform has acquired four real estate agencies and two rent-to-own platforms, grown 5x YoY, and sold over €300M worth of real estate annually.
Company: Homerun Technologies Oy
Round: Series A
Funding Month: November 2022
Lead Investors: IDC Ventures
Company Website: https://rivehomes.com/
Software Category: AI-powered Real Estate Services platform
About the Company: Founded by Kalle Salmi, Rive is an AI-powered real estate services platform with a mission to make buying and selling homes more accessible. The platform offers end-to-end solutions for a successful real estate transaction, from real-time market insights to instant cash offers and renovation services delivered by local real estate professionals who guide them at every step. It offers instant purchase offers, brokerage services, and move-in-ready city apartments. The firm currently has around 300 people working in its offices around Finland, Spain, and Poland.