PropTech startup Seniovo wins Villeroy & Boch as new shareholder
BERLIN, 28. April 2021 - Villeroy & Boch strengthens the existing investor consortium with PropTech1 Ventures and IBB Ventures. Seniovo accompanies people in need of care and older people along the entire process of age-appropriate and barrier-free conversion measures in their apartments or houses.
For bathroom remodeling projects, Seniovo relies predominantly on Villeroy & Boch products to provide its customers with a high-quality experience. The fast-growing Berlin-based startup has already successfully completed over 1,500 remodeling projects.
Seniovo is already the market leader in the field of living environment-improving measures supported by long-term care insurance funds. The special challenges of the conversion in the so-called inhabited existence and the absolute price loyalty opposite the customers, who are to a large extent in need of care, drive the Seniovo team daily, in order to make the living possible for the customers further in the used environment.
In the future, Seniovo will benefit from Villeroy & Boch's strong expertise in the Bathroom and Wellness Division, particularly its many years of experience in brand management, its expertise in product development, and its excellent networking with the trade and crafts.
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Jonathan Kohl, Managing Director of Seniovo:
"Gaining a partner today that has high brand recognition, is well connected in the HVAC industry and is a recognized training partner is a big win in our growth phase."
Martin Schmidt, Managing Director of Seniovo:
"We are very pleased to have found a partner in Villeroy & Boch, whose in-house product development under the Villeroy & Boch brand will enable us to jointly expand our market leadership in the years to come."
As a one-stop contact, the Berlin PropTech startup Seniovo (www.seniovo.de) offers target-group-specific advice for barrier-free conversions in care households on its online platform www.seniovo.de. Seniovo completely digitizes the application and implementation process up to on-site measures with its own craftsmen or certified partners. In many cases, people in need of care do not have to make a private co-payment. For example, Seniovo's success rate in submitting applications for subsidies for people in need of care is over 95%. Seniovo has already been able to provide barrier-free conversions in more than 1,500 residential units. The startup counts PropTech1 Ventures, IBB Ventures and the German Media Pool among its investors.
About PropTech1 Ventures
PropTech1 Ventures ("PT1", www.proptech1.ventures) is the leading independent venture capital fund for PropTech and ConstructionTech in Europe. PT1 thus leverages value from the megatrends of digitalization, method modernization and sustainability/ESG in the real estate industry. PT1 has made investments in nine portfolio companies since the beginning of 2018 and counts well-known real estate companies, banks, medium-sized companies and serial entrepreneurs among its shareholders. PT1 employs a comparatively large team of more than 10 professionals in Berlin, Zurich and London and additionally has more than 10 advisory board members and venture partners, usually ex-CEOs of leading real estate companies. PT1 has thus created, in its own estimation, the most powerful venture platform in continental Europe, both from the perspective of portfolio startups, which PT1 actively supports beyond pure growth capital, and for PT1 shareholders, who, in addition to a financial return, receive structured access to what is expected to be the largest database on real estate innovation in Europe, as well as further inspiration and support for their own transformation projects.
About IBB Ventures
IBB Ventures (www.ibbventures.de) has been providing venture capital to innovative Berlin-based companies since 1997 and has established itself as the market leader in early stage financing in Berlin. The funds are primarily used for the development and market launch of innovative products or services and for business concepts in the creative industries. Currently, two funds with a total volume of EUR 100 million are in the investment phase. Both VC funds are financed by funds from Investitionsbank Berlin (IBB) and the European Regional Development Fund (ERDF), managed by the State of Berlin. IBB Ventures has already invested in more than 240 Berlin-based creative and technology companies; in consortia with partners, the startups received approximately EUR 1.62 billion, of which IBB Ventures has invested more than EUR 240 million as lead, co-lead or co-investor. IBB Ventures is the umbrella brand for the VC activities of IBB Beteiligungsgesellschaft.
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