HTGF invests in Urban Ground

The Berlin start-up has raised a seven-figure sum. The other investors remain a secret.

Urban Ground has raised a seven-figure sum in its seed financing round. The round was led by High-Tech Gründerfonds and also includes other investors who remain undisclosed. The Berlin-based start-up serves as a digital rental manager, i.e. it is the point of contact for both landlords and tenants and ensures that rental periods are adhered to, finds apartments for employees on behalf of companies and, according to the company, guarantees constant rent payments.

"We will use the seed funding to expand the full-stack rental platform and expand into other German cities. Urban Ground is currently active in Berlin, with Frankfurt to follow in the next few months. Within the next few years, all relevant European cities are to be developed," announces co-founder Oliver Diethert, who founded Urban Ground together with Praneel Redlapalle in 2017. Diethert comes from the real estate industry, while Redlapalle has a technical background and is primarily concerned with scaling the business concept. According to its own information, Urban Ground manages 300 properties in Berlin, with tenants from over 80 countries.

High-Tech Gründerfonds is convinced by the business model: "The simple, digitalized access to living space via Urban Ground's platform offers great added value for HR teams and private individuals. The team has proven in recent years that they can successfully implement the model and I am delighted to be part of the journey," says Louis Heinz from the fund.