Berlin-based rental startup Nestpick has raised $2 million in funding. The investors were Target Global and b-to-v Partners.
Berlin. 08 December, 2015 — Berlin-based long-term rental startup follows up November’s Series A investment of $11 million with additional $2 million from Target Global and b-to-v Partners to significantly improve customer experience in 2016.
nestpick recently closed an additional $2 million investment round from Target Global and b-to-v Partners to significantly improve customer experience. This investment helps conclude a landmark year for the long-term rental startup after successfully expanding to 35 cities across eight European countries and Australia.
“Customer trust is paramount to everything that we do. All of our users will know that nestpick has their back. We are strengthening our insurance policies, introducing reviews and offering far more comprehensive and personal care for both our landlords and tenants. We will know we succeeded when our customers only have 10/10 things to say about us” says Fabian Dudek, founder and CEO.
For landlords, the Full Nest Guarantee insurance policy promises to cover the cost of rent of an upcoming vacant period if nestpick is unable to find a suitable tenant for their verified “nest.” For tenants, the Nest Assured insurance policy offers to house them for up to 30 days if the verified “nest” that they book online does not match the description, or they cannot access the nest. These improved policies form the foundation of nestpick’s customer care and both sets of users will experience greater attention to their needs.
In a significant showing of intent, nestpick has hired longtime Airbnb customer experience specialist, Luciana Eletti, to spearhead this effort as the new Head of Customer Experience. Eletti developed effective customer experience teams at Airbnb for three years and drove positive service levels for guests. She explains that “Finding a new home is still such a frustrating experience even though we find that people are spending up to half their income on rent. nestpick is showing that it doesn’t have to be this way. In my mind, trust and security are a given. It’s the prospect of going further to surprise and delight our customers that’s really exciting.”
Dr. Jochen Gutbrod, General Partner and Executive Chairman of b-to-v Partners, echoes this sentiment in saying that “A convenient way of renting a home months in advance is still not commonly available. The online marketplace of nestpick addresses this problem by providing secure, transparent and easy access to furnished mid- to long term rental homes. We are delighted to invest alongside Mangrove Capital Partners, Enern as well as Target Global and to support nestpick in its development.”
Eugene Levin of Target Global provides the concluding thought on nestpick’s future:
“Today, finding a reasonably priced apartment in a big city is an unreasonably hard and painful task. There is no one you can trust, and in many cases, real estate agents take huge commissions and provide poor quality. The long/mid term rental market lacks transparency and efficiency, and there has been no real disruption in this space since classifieds.
nestpick, on the other hand, cut out the middleman and provides more value for the money for both landlords and tenants. At the same time, they’ve built a trustworthy brand with a world class customer experience. This is the first time one can safely rent a long term home online without viewings. 5 years ago this was unthinkable. nestpick changes the way people rent homes and that’s why we are so excited to be a part of it.”
About Target Global
Target Global is an international VC firm with over $300 million in assets under management and offices in San Francisco, Berlin and Moscow. Target Global focuses primarily on fast-growing digital-enabled B2C and B2 SMB companies in e-Commerce, finTech, travel, software and mobile.
We manage growth fund that invests in Series B and later stage opportunities (both primary and secondary) 5-30m$ per deal and seed stage fund that focuses on late seed and early Series A investments of 200-500k$ per deal.
About b-to-v Partners
Founded in 2000, b-to-v Partners is a venture capital fund as well as the leading network of investing entrepreneurs in Europe. The firm combines the industry expertise and experience of its network with the venture capital expertise of its investment team. With investment teams in Internet & Mobile and Advanced Technologies, b-to-v Partners invests EUR 25mn per year in high growth companies with ticket sizes from EUR 0.5mn to 2.5mn. In 2015, b-to-v Partners merged with RI Digital Ventures/Raffay & Cie. to set up its third fund. With offices in St.Gallen and Berlin, the firm has more than EUR 200mn assets under management.