IMMO, the tech-driven residential funding platform revolutionising renting, promoting and investing in single-family rental (SFR) housing, has appointed a Chief Know-how Officer following a record-breaking $75 million Collection B spherical.
Mandali’s appointment, which can see him take up a newly created position, follows a 12 months of fast progress for IMMO. In April, the corporate raised $75 million in what stays Europe’s largest-ever proptech Collection B spherical, and not too long ago introduced plans to spend £2.5 billion buying and retrofitting over 10,000 houses throughout the UK, Germany, Spain & the EU to lease out beneath IMMO’s living-as-a-service mannequin.
IMMO – which has workplaces within the UK, India, Germany, and Spain – makes use of proprietary know-how powered by synthetic intelligence to establish, purchase, and refurbish current houses earlier than renting and managing them utilizing IMMO’s shopper tech platform. Mandali’s appointment comes at a time when IMMO is constructing out its information science and engineering groups, having grown considerably because the Collection B fundraise and almost doubled headcount to shut to 200 employees worldwide. In his new position as CTO, Mandali can even lead on guaranteeing consistency of requirements as IMMO continues to scale its platform.
Throughout his time at Solarisbank AG, Mandali led and managed globally distributed groups of over 350 engineers, and was chargeable for migrating the financial institution’s techniques, merchandise and databases to the cloud – making Solaris the primary to take action in Germany.
Between 2008 and 2019, Mandali spent 12 years at CapitalOne, an American financial institution the place he most not too long ago held the position of Director of Software program Engineering.
Hima Mandali, Chief Know-how Officer at IMMO, stated: “As Europe’s main technology-led residential actual property funding platform, IMMO advantages from an early-mover benefit in a sector that’s attracting an ever-growing weight of capital.
“I consider the corporate has the potential to be Europe’s first proptech unicorn and can assist unlock the world’s largest asset class – residential actual property – whereas additionally delivering optimistic environmental and social outcomes by offering sustainable, higher high quality rental housing.
“Key to my position shall be serving to the corporate to scale, innovate whereas sustaining requirements following the Collection B fundraise, and instilling a ‘platform-over-product’ mindset that sees our technical groups pondering the best way to not simply resolve one specific ache level, however the best way to modernise housing markets to the advantage of customers.”
Avinav Nigam, Co-founder and Chief Working Officer at IMMO, stated: “Hima’s appointment as chief know-how officer is a testomony to the standard of expertise we’ve got been in a position to entice at IMMO in any respect ranges, having grown the workforce considerably since our landmark Collection B fundraise.
“It is a essential time for the enterprise as we glance to develop and scale our platform and having the precise individuals is simply as vital as having the precise information and know-how.”
Hans-Christian Zappel, Co-founder and Chief Govt Officer at IMMO, stated: “The rental housing mannequin has barely modified in a century and is in pressing want of disruption.
“I’m extremely excited to welcome Hima’s breadth of information and experience. His distinctive expertise in constructing high-performing know-how groups at extremely regulated fintech companies will enable us to concurrently push the envelope on innovation in actual property whereas delivering impactful, tech-enabled funding fashions whose robustness meets the wants of among the most established institutional buyers on this planet.”