The real estate appraisal industry in DACH is integral to property transactions, providing critical value assessments for buyers, sellers, and investors. Companies in this space range from independent appraisers to tech-driven platforms. They offer services such as property evaluations, market analysis, and investment advisories tailored to real estate assets. As technology advances, the industry increasingly adopts automation and AI tools for more accurate valuations, aiming for greater efficiency. The rise of property technology startups is also reshaping the market, as stakeholders seek solutions that enhance appraisal speed and precision while aiming for transparency in transactions.


This article showcases the top 19 real estate appraisal investors across the DACH region. Ranging from venture capital firms like Picus Capital, founded in 2015, to corporate giants such as Axel Springer, established in 1946, these investors vary in size and investment strategies. The 2024 financial year saw robust activities, with several investors completing over ten transactions, demonstrating a strong interest in the evolving property appraisal landscape. Investors are predominantly based in major cities like Berlin, Munich, and Zurich, positioning them strategically in key markets.


Top 19 Real Estate Appraisal Investors in DACH


1. Picus Capital

  • Website: picuscap.com
  • Type: Venture Capital
  • Headquarters: Munich, Bavaria, Germany
  • Founded year: 2015
  • Headcount: 11-50
  • Number of deals in 2024: 28
  • LinkedIn: picus-capital

Picus Capital is a venture capital firm based in Munich, Bavaria, Germany, founded in 2015. Specializing in early-stage technology investments, Picus Capital partners with innovative startups across various sectors, including fintech and healthcare. Notably, they have made significant investments in the real estate technology sector, particularly in companies like Homeday and Casavo. Homeday, a property technology startup, raised funds in both Seed and Series A rounds, focusing on enhancing the real estate transaction process. Casavo, a leading proptech platform in Southern Europe, has raised substantial funding across multiple rounds, including a Series C round where Picus Capital participated. Casavo aims to become a leading digital platform for residential real estate in Europe, which aligns with the interests of real estate appraisal by leveraging technology to improve property valuation and transactions.


2. Axel Springer

  • Website: axelspringer.com
  • Type: Corporate
  • Headquarters: Berlin, Berlin, Germany
  • Founded year: 1946
  • Headcount: 10001+
  • Number of deals in 2024: 1
  • LinkedIn: axel-springer-se

Axel Springer SE is a prominent media company based in Berlin, Germany, founded in 1946. It specializes in publishing news and digital media, operating a diverse portfolio of brands, including BILD and Business Insider. The company is dedicated to independent journalism and leveraging technology to enhance its media offerings. In recent years, Axel Springer has made strategic investments in the real estate sector, particularly in property technology startups. Notable transactions include a Series C investment in Homeday, an online real estate agent, where they raised over $45 million in 2020. Additionally, Axel Springer participated in a €20 million funding round for Homeday in 2018 and a Series A round in 2016. The company also invested €9 million in Housell, a Spanish online real estate agency, and acquired Logic-Immo for €105 million to strengthen its digital presence in the French real estate market. These transactions highlight Axel Springer's active role in the real estate industry, particularly in technology-driven solutions that could influence real estate appraisal.


3. Partners Group

  • Website: partnersgroup.com
  • Type: Private Equity
  • Headquarters: Baar, Zug, Switzerland
  • Founded year: 1996
  • Headcount: 1001-5000
  • Number of deals in 2024: 19
  • LinkedIn: partners-group

Partners Group Holding AG is an investment management firm based in Baar, Zug, Switzerland, specializing in private equity, private infrastructure, private real estate, and private debt. Founded in 1996, the firm manages over USD 149 billion in assets and offers a range of investment solutions to institutional investors, private banks, and individual investors. Notably, Partners Group has been involved in significant transactions within the real estate sector, such as the acquisition of Foncia Group, a leading French property management services provider, and the acquisition of a minority stake in Trinity Investments, focusing on hospitality opportunities across North America and Europe. Additionally, their investment in Citivale Group Holdings Ltd, a developer and asset manager in logistics and light industrial assets, highlights their strategic approach to investing in real estate operating companies. These transactions reflect Partners Group's commitment to navigating the complexities of private markets and their active role in the real estate appraisal industry.


4. Scout24 SE

  • Website: scout24.com
  • Type: Corporate
  • Headquarters: Munich, Bavaria, Germany
  • Founded year: 1998
  • Headcount: 1001-5000
  • Number of deals in 2024: 1
  • LinkedIn: scout24-group

Scout24 SE, founded in 1998 and based in Munich, Bavaria, Germany, is a corporate investor and a leading digital real estate platform that operates ImmoScout24, the foremost online marketplace for residential and commercial properties in Germany. The company provides users with tools to search for properties and access market analysis, catering to both individual consumers and businesses in the real estate sector. In recent years, Scout24 has made strategic acquisitions to enhance its capabilities in the real estate appraisal domain, including a 75% majority stake in Sprengnetter Group, a prominent provider of property data and valuation services, for approximately EUR 100 million, announced on June 19, 2023. Additionally, Scout24 acquired bulwiengesa AG, a key player in valuation and data services for commercial real estate, on December 16, 2024. These acquisitions underscore Scout24's commitment to expanding its influence and expertise in the real estate appraisal market.


5. Ringier

  • Website: ringier.com
  • Type: Corporate
  • Headquarters: Zurich, Zurich, Switzerland
  • Founded year: 1833
  • Headcount: 5001-10000
  • LinkedIn: ringier

Ringier AG is a media company based in Zurich, Switzerland, founded in 1833. It operates in media publishing, digital marketplaces, and technology solutions, serving both consumers and businesses. In recent years, Ringier has expanded its portfolio to include significant investments in the real estate sector. Notably, they acquired Scout24 Switzerland, enhancing their digital business strategy with leading classified-advertisement marketplaces. Additionally, Ringier has made strategic acquisitions such as BuyRentKenya and Homsters, the latter specializing in automated sales and marketing solutions for new property developments. These transactions reflect Ringier's commitment to integrating real estate services into their digital marketplace offerings, positioning them as a relevant player in the real estate appraisal industry.


6. Deutsche Bank

  • Website: db.com
  • Type: Corporate
  • Headquarters: Frankfurt, Hesse, Germany
  • Founded year: 1870
  • Headcount: 10001+
  • Number of deals in 2024: 32
  • LinkedIn: deutsche-bank

Deutsche Bank AG is a prominent investment bank and financial services provider based in Frankfurt, Hesse, Germany, founded in 1870. The bank offers a wide range of solutions including investment banking, corporate banking, cash management, trade finance, and securities services. It serves corporate and institutional clients, helping them manage their financial assets and liquidity effectively through its digital platform, Autobahn. Notably, Deutsche Bank acquired RREEF on March 8, 2002, for $440 million, which highlights its commitment to the real estate sector. Additionally, Deutsche Bank has been involved in significant debt financing transactions, such as raising over $451 million for Clikalia in December 2021 and $464 million in October 2021, indicating its active role in financing real estate-related ventures.


7. BitStone Capital

  • Website: bitstone.capital
  • Type: Venture Capital
  • Headquarters: Neunkirchen, North Rhine-Westphalia, Germany
  • Founded year: 2017
  • Headcount: 1-10
  • Number of deals in 2024: 4
  • LinkedIn: bitstone-capital

BitStone Capital is a venture capital firm based in Neunkirchen, North Rhine-Westphalia, Germany, founded in 2017. The firm specializes in investing in innovative startups within the real estate and construction technology sectors, providing venture capital, business development support, and advisory services to help these startups grow in a rapidly digitizing industry. Their portfolio includes companies focused on digital solutions for property management and building technology. Notable transactions include investments in Plan4 Software, which raised over $4.3 million in 2022, and Optiml, which raised over $4.1 million in a Pre-Seed round in 2024. These investments highlight BitStone Capital's commitment to supporting technological advancements that can improve real estate appraisal and management processes.


8. Project A

  • Website: project-a.com
  • Type: Venture Capital
  • Headquarters: Berlin, Berlin, Germany
  • Founded year: 2012
  • Headcount: 51-200
  • Number of deals in 2024: 13
  • LinkedIn: project-a-ventures

Project A is a venture capital firm based in Berlin, Germany, founded in 2012. They specialize in early-stage tech investments and provide operational support for startups. With a focus on consulting in tech and growth, they offer access to a network of investors and pre-seed investment opportunities. Notably, Project A has been involved in significant transactions within the real estate sector, including leading funding rounds for Homeday, an online real estate agent, and Evernest, a property technology startup. In 2016, they participated in a Series A round for Homeday, and in 2018, they led a €20 million Series B round for the same company. Additionally, they were involved in Evernest's Series A financing round in 2022, which raised €13 million to accelerate technology platform development. These transactions highlight Project A's active role in the real estate appraisal and technology landscape.


9. Foundamental

  • Website: foundamental.com
  • Type: Venture Capital
  • Headquarters: Berlin, Berlin, Germany
  • Founded year: 2019
  • Headcount: 11-50
  • Number of deals in 2024: 7
  • LinkedIn: foundamental

Foundamental is a Berlin-based venture capital firm founded in 2019, specializing in the architecture, engineering, and construction (AEC) technology sectors. The firm provides early-stage funding and strategic support to startups, helping founders navigate the challenges of building their businesses. Foundamental's portfolio includes companies focused on 3D design, construction, renovation, and supply chain logistics, primarily targeting businesses in the AEC industry. Notably, Foundamental has invested in Ivy Homes, a prop-tech startup that raised $7 million, and Enter, a home energy assessment startup that raised €19.4 million in a Series A round. Enter offers digital surveys for homeowners to assess the energy status of their buildings, which is relevant to real estate appraisal as it involves evaluating property conditions and potential renovations. Additionally, Foundamental participated in funding rounds for Homebase, a real estate technology platform aimed at empowering homeownership in Southeast Asia, further demonstrating their engagement in the real estate sector.


10. b2venture

  • Website: b2venture.vc
  • Type: Venture Capital
  • Headquarters: St. Gallen, St. Gallen, Switzerland
  • Founded year: 2000
  • Headcount: 11-50
  • Number of deals in 2024: 15
  • LinkedIn: btovpartners

b2venture is a venture capital firm based in St. Gallen, Switzerland, founded in 2000. It specializes in early-stage investments in innovative startups across various sectors, providing financial backing and support to entrepreneurs. Notably, b2venture has been involved in significant transactions within the real estate technology sector, particularly with Tiko, a platform that raised multiple funding rounds to enhance its data-driven valuation algorithm for selling houses. Tiko's funding rounds, including a $65 million Series A in 2021 and earlier rounds in 2016 and 2018, highlight b2venture's commitment to supporting technology that impacts real estate appraisal and sales. Additionally, b2venture's investment in Baufi24, a digital home finance company, further emphasizes its engagement in the real estate market, as this company aims to improve home financing solutions in Germany.


11. HV Capital

  • Website: hvcapital.com
  • Type: Venture Capital
  • Headquarters: Flensburg, Schleswig-Holstein, Germany
  • Founded year: 2000
  • Headcount: 11-50
  • Number of deals in 2024: 28
  • LinkedIn: hvventures

HV Capital is a venture capital firm based in Flensburg, Schleswig-Holstein, Germany, founded in 2000. With over €2.8 billion under management, HV Capital specializes in investing in digital companies and supporting entrepreneurs from seed stage to exit. The firm has been active in various sectors, including real estate technology. Notably, HV Capital has invested in IMMO, which raised significant funding in Series A rounds in 2019 and 2020, focusing on property technology solutions. Additionally, they have backed Lamudi, a property portal for emerging markets, which raised substantial funds to expand its operations. These investments highlight HV Capital's commitment to supporting innovative solutions in the real estate sector, particularly in areas that enhance property appraisal and market access.


12. ImmoScout24


ImmoScout24, founded in 1998 and based in Berlin, Germany, is a leading real estate marketplace that connects individuals and businesses with residential and commercial properties. The platform facilitates renting, buying, and selling properties, as well as offering financing options and moving services. ImmoScout24 serves a diverse customer base, including consumers and real estate professionals, and plays a crucial role in facilitating seamless real estate transactions. Notably, ImmoScout24 has made strategic acquisitions to enhance its offerings in the real estate appraisal context. For instance, the acquisition of Immoverkauf24 in July 2020 allows property owners to manage their home valuations and connect with suitable agents, directly linking to appraisal services. Additionally, their acquisition of Immobilien.net and wg-suche.de further expands their reach and capabilities in the real estate sector, reinforcing their position as a comprehensive platform for real estate transactions and appraisals.


13. Helvetia Venture Fund

  • Website: helvetia.vc
  • Type: Venture Capital
  • Headquarters: St. Gallen, St. Gallen, Switzerland
  • Founded year: 1858
  • Headcount: 1-10
  • LinkedIn: helvetiaventurefund

Helvetia Venture Fund is a venture capital firm based in St. Gallen, Switzerland, founded in 1858. The fund specializes in investing in early-stage startups, particularly those innovating within the insurance technology sector. However, it has also made significant investments in the real estate technology domain. Notably, Helvetia led the Series A funding round for PriceHubble, a Zurich-based AI-driven real estate valuation startup, which highlights its commitment to advancing real estate appraisal technologies. Additionally, the fund participated in the Series A funding for Baufi24, a digital home finance company, further showcasing its engagement with the real estate market. These transactions reflect Helvetia's strategic interest in supporting innovations that intersect with real estate appraisal and valuation.


14. Mutschler Ventures AG


Mutschler Ventures AG is a venture capital firm based in Zug, Switzerland, founded in 2007. The firm specializes in early-stage investments in scalable tech companies across various sectors, including Fintech and Digital Health. Mutschler Ventures provides not only capital but also strategic support to help these companies grow and succeed. Among their notable transactions, they have invested in McMakler, a German proptech startup that raised €16 million in a Series B funding round to expand its real estate services in Germany. Additionally, they participated in the seed funding round for Predium, a Munich-based PropTech startup focused on ESG management solutions for real estate, which raised €4.5 million to develop its platform aimed at decarbonizing buildings. These investments highlight Mutschler Ventures' engagement in the real estate sector, particularly in technology-driven solutions that can impact real estate appraisal and management.


15. Aareon Group

  • Website: aareon.com
  • Type: Corporate
  • Headquarters: Mainz, Rhineland-Palatinate, Germany
  • Founded year: 1957
  • Headcount: 1001-5000
  • Number of deals in 2024: 1
  • LinkedIn: aareon-ag

Aareon Group, founded in 1957 and based in Mainz, Germany, is a leading software company specializing in SaaS solutions tailored for the property management industry. With a workforce of 1001-5000 employees, Aareon provides a comprehensive property management system that aids housing owners and managers in streamlining operations, enhancing customer engagement, and ensuring sustainability across both residential and commercial sectors in Europe. In recent years, Aareon has made significant acquisitions to bolster its offerings, including the acquisition of Fixflo in May 2021, which manages repairs for approximately 1.2 million units, and IESA Technological Communities in August 2023. These transactions reflect Aareon's commitment to expanding its capabilities in property management, which is closely related to real estate appraisal processes, as effective management systems can facilitate accurate property valuations and assessments.


16. Pt1

  • Website: pt1.vc
  • Type: Venture Capital
  • Headquarters: Berlin, Berlin, Germany
  • Founded year: 2018
  • Headcount: 11-50
  • Number of deals in 2024: 6
  • LinkedIn: proptech1

PT1 is a venture capital firm based in Berlin, Germany, founded in 2018. The firm specializes in investing in early-stage startups that focus on transformative real asset technologies, providing both capital and expertise to innovative entrepreneurs in Europe. PT1 operates through a structured investment management approach, targeting pre-seed and seed funding stages. Among their notable transactions, they participated in the funding of Beanstock, a French buy-to-let investment marketplace, which raised €12M in a Series A round. This investment highlights PT1's engagement in the real estate sector. Additionally, they have been involved in other transactions such as Simplifa and Climate X, which, while not directly related to real estate appraisal, showcase their commitment to innovative solutions in various sectors. Their investment in platforms like Beanstock indicates a strategic interest in real estate technologies, making them a relevant player in the real estate appraisal landscape.


17. IBB Ventures


IBB Ventures is a venture capital firm based in Berlin, Germany, founded in 1997. The firm specializes in providing funding and support to innovative startups, particularly in the early stages of their development. With a portfolio of over 270 startups, IBB Ventures offers expertise and resources to help these businesses thrive in competitive markets. Notably, IBB Ventures has been involved in significant transactions within the real estate sector, including multiple funding rounds for Realbest, a Berlin-based real estate startup. Realbest raised funds in Series B and Series C rounds, as well as a venture round, indicating IBB Ventures' active role in supporting technology-driven solutions in real estate brokerage and distribution. Additionally, IBB Ventures has invested in other startups like assetbird, which may also have implications for real estate appraisal, further solidifying their relevance in this industry.


18. Tamedia

  • Website: tamedia.ch
  • Type: Corporate
  • Headquarters: Boswil, Aargau, Switzerland
  • Founded year: 1893
  • Headcount: 1001-5000
  • LinkedIn: tamedia

Tamedia is a corporate investor based in Boswil, Aargau, Switzerland, founded in 1893. It is primarily a media company specializing in journalism and publishing, offering a range of products including newspapers and digital news platforms. In addition to its core media operations, Tamedia has made significant investments in the real estate sector. Notably, it acquired a 20.4% stake in the financial advisory platform MoneyPark in 2014, which, while not directly related to real estate appraisal, indicates a broader interest in real estate finance. More relevantly, Tamedia acquired Homegate.ch in 2005, a leading real estate platform in Switzerland, and later received approval to acquire Home.ch in 2014. These transactions highlight Tamedia's strategic positioning within the real estate market, particularly in online real estate services, which are integral to real estate appraisal activities.


19. Swisscom

  • Website: swisscom.ch
  • Type: Corporate
  • Headquarters: Ittigen, Bern, Switzerland
  • Founded year: 1998
  • Headcount: 10001+
  • Number of deals in 2024: 2
  • LinkedIn: swisscom

Swisscom AG is a telecommunications provider based in Switzerland, founded in 1998. The company offers a range of services including mobile communication, broadband internet, and television, serving both individual consumers and businesses. In addition to its core telecommunications business, Swisscom has shown interest in the real estate sector through its investment activities. Notably, Swisscom Ventures participated in a multi-million Franc Series A financing round for PriceHubble, a Zurich-based startup specializing in AI-driven real estate valuation. This investment highlights Swisscom's engagement in innovative technologies that support real estate appraisal. Furthermore, Swisscom has been involved in various other transactions, although they are less directly related to real estate appraisal. Overall, Swisscom's involvement with PriceHubble positions it as a corporate investor with a relevant interest in the real estate appraisal industry.



Real Estate Appraisal Insights: Key Investors in DACH


InvestorHeadquarterSizeFoundedDeals 2024
Picus CapitalMunich, Bavaria, Germany11-50201528
Axel SpringerBerlin, Berlin, Germany10001+19461
Partners GroupBaar, Zug, Switzerland1001-5000199619
Scout24 SEMunich, Bavaria, Germany1001-500019981
RingierZurich, Zurich, Switzerland5001-1000018330
Deutsche BankFrankfurt, Hesse, Germany10001+187032
BitStone CapitalNeunkirchen, North Rhine-Westphalia, Germany1-1020174
Project ABerlin, Berlin, Germany51-200201213
FoundamentalBerlin, Berlin, Germany11-5020197
b2ventureSt. Gallen, St. Gallen, Switzerland11-50200015
HV CapitalFlensburg, Schleswig-Holstein, Germany11-50200028
ImmoScout24Berlin, Berlin, Germany1001-500019980
Helvetia Venture FundSt. Gallen, St. Gallen, Switzerland1-1018580
Mutschler Ventures AGBaar, Zug, Switzerland1-1020071
Aareon GroupMainz, Rhineland-Palatinate, Germany1001-500019571
Pt1Berlin, Berlin, Germany11-5020186
IBB VenturesBerlin, Berlin, Germany11-50199718
TamediaBoswil, Aargau, Switzerland1001-500018930
SwisscomIttigen, Bern, Switzerland10001+19982


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