P+P advises digital real estate appraiser PriceHubble on joint venture with Sprengnetter and ING
The Swiss digital real estate appraiser PriceHubble AG ("PriceHubble") has founded "Scoperty", a joint venture with Sprengnetter GmbH ("Sprengnetter") and ING Ventures. The new joint venture is headquartered in Munich and will build up a real estate transaction databank. The goal is to establish a new information quality for residential real estate transactions with the help of big data and artificial intelligence.
PriceHubble is a startup headquartered in Wollerau, Switzerland. The company uses big data and machine learning to allow real estate investors to access fast and uncomplicated property valuations. The startup was founded in 2016; it concluded an A financing round in 2017 for multiple million Swiss Francs and its investors include Swiss Life Holding AG and Helvetia Holding AG.
Sprengnetter is headquartered in Bad Neuenahr-Ahrweiler, Rhineland-Palatinate, has specialized in real estate valuations since 1978 and has established experience in the collection, analysis and processing of market data, software development and process optimization for all aspects of real estate appraisal.
ING Ventures is an investment fund of Bank ING in the Netherlands with a total volume of EUR 300 million. ING Ventures specializes in investments in Fintech companies.
P+P Pöllath + Partners advised PriceHubble on all legal matters with the following team:
- Ralf Bergjan (partner, lead, M&A/private equity, Munich)
- Margot Gräfin von Westerholt (of counsel, IT/IP, Munich)
- Christian Tönies (partner, venture capital, Munich)
- Barbara Koch-Schulte (partner, management participation, Munich)
- Nico Fischer (partner, tax law, Munich)
- Daniel Wiedmann (associated partner, antitrust law, Frankfurt)
- Michaela Lenk (associate, M&A/private equity, Munich)
P+P Pöllath + Partners previously advised PriceHubble in 2018 on the acquisition of Hamburg-based YouVal.