BMH invests in Immonu

BMH Beteiligungs-Managementgesellschaft Hessen mbH is investing in Immonu GmbH with funds from the Hessen Kapital I fund. The Giessen-based PropTech start-up was founded in 2023 by Dr. Isatu Waag and aims to make property management more efficient, transparent and scalable.

Our vision is to completely rethink property management - efficient, data-based and service-oriented

Dr. Isatu Waag, founder and CEO of Immonu

The new capital will be used to further develop the in-house software platform, expand the team and acquire additional property management companies.

Combination of tech and acquisition

Immonu pursues a buy-and-build strategy. In addition to organic growth, the company takes over existing property management companies and integrates them via its own ERP platform. This covers all core processes, from master data management and transaction management to communication with owners and service providers.

The sector offers enormous potential for increasing efficiency through technology. With a solid software architecture and AI integration, we don't just want to digitize, we want to improve sustainably.

Timo Körber, CTO Immonu

The platform has been live since 2023 and forms the technological basis for the rapid integration of acquired companies. In future, tenants will also be connected via an app, including with additional services such as insurance, energy contracts and financing.

Market with a high need for digitalization

The German property management industry is highly fragmented: Over 30,000 providers share a market volume of around 20 billion euros per year. Many companies are still working with low levels of digitalization and face unresolved succession issues.

Immonu combines a technological platform, buy-and-build strategy and operational experience - a basis for significant market share.

Helge Haase, BMH representative

Immonu's approach addresses these structural issues by combining efficiency gains and scalability. The company currently manages around 2,500 units in three locations: Nuremberg, Aschaffenburg and Usingen. By 2028, it aims to have more than 18,000 units.

While writing this article, I noticed some astonishing parallels to the last round of Buena struck me. They are also operating in the PropTech segment, focusing on acquiring smaller property management companies and combining this approach with their own management platform. It will be interesting to see whether the German market offers enough room for several strong players, or whether a completely different solution might win the race in the end.