The digital property administration service launches with initial backing from the two investors.
Germany-based digital property administration platform Casavi has launched with backing from Bavarian sovereign wealth fund Bayern Kapital and private-public partnership High-Tech Gründerfonds.
Bayern Kapital is a venture capital subsidiary of the Bavarian LfA Förderbank that provides equity investment to entrepreneurs setting up technology companies in Bavaria.
High-Tech Gründerfonds is a funding initiative for technology startups backed by the Federal Ministry of Economics and Energy, German government-owned development bank KfW Banking Group and a number of corporate investors.
Casavi is a software-as-a-service platform that provides property managers, landlords and tenants with more transparent information about the lettings process.
The company will now focus on growing its sales team and forming strategic partnerships with suppliers such as energy companies, software vendors and cable network providers.
In 2015, Casavi was part of the Exist incubator program set up by the German Federal Ministry of Economic Affairs and Energy.