Buena raises $58M from Google Ventures

• Buena is on a mission to make owning real estate simple, starting with Germany
• Buena was one of the first startups globally to follow an AI rollup strategy, acquiring two companies per month, with global private equity investors starting to follow suit
• The funding will go towards developing its AI-powered software to manage 60,000+ properties, and national expansion across Germany

Buena, the proptech on a mission to make owning real estate simple, is announcing today it has raised $58 million in total funding, including a Series A funding round led by GV, with participation from prominent investors 20VC, Stride, and Capnamic. The raise follows growing revenues over 500% in 2024 and over 300% in 2023, as it revolutionizes the $16bn property management industry in Germany.

The Property Management Opportunity

Property management is incredibly fragmented, with over 30,000 firms in Germany employing an average of just five people each (Datenmarkt.de). Meanwhile, the industry is notorious for talent shortage and record-low customer NPS scores, with 96.3% of German property managers still relying on pre-cloud software.

Buena is changing the industry in two ways: first, by building its own AI property management software, and second, by acquiring and digitising existing property management teams across Germany. Buena’s software automates repetitive yet crucial tasks, such as accounting, significantly enhancing accuracy and efficiency, with recently launched AI features to further assist property managers by handling routine yet essential responsibilities such as annual financial reporting.

The company currently has 60,000+ apartments and a waiting list of over 5,000 landlords who are desperate for better property management. However, at the core of the platform is its belief that real estate is a key lever for prosperity. Germany is the largest European market for property management, yet homeownership lags behind every OECD country at just 46%. Helping people own and manage it better is one of the most direct paths to building wealth and strengthening the middle class, something Buena hopes to enable.

The Future of AI-led Rollups

Buena isn’t only building its own property management platform but transforming the industry through consolidation. Since 2023, the company has acquired 20+ property managers, creating the future of the real estate industry. Unlike blue-collar sectors, which will be widely automated through robotics, Buena sees AI as enhancing — not replacing — the roles of workers in service industries such as property management, whilst also making the company significantly more profitable than its traditional competitors.

Analysts project that the AI-enabled rollup model will significantly impact the global $17 trillion services market within the next decade, particularly as businesses across various service industries seek efficiency improvements through digitization and consolidation. Private equity and venture funds are increasingly focusing on this strategy with Thrive Capital, Khosla Ventures and General Catalyst announcing new AI-led rollup strategies.

Din Bisevac, CEO of Buena, said: “When we first began acquiring property managers in 2023, people thought we were crazy. Today, AI-powered rollups are recognized as the future of service industries. Instead of getting bogged down with routine tasks like annual accounting and payment processing, AI empowers our property managers to focus on complex problem-solving and meaningful customer interactions. This is made possible by our globally scalable software and business model. We’re excited to continue growing across Germany whilst also turning our focus to international markets that demand new tools to enable real estate management.”

Global ambitions

With a core team of just 24 team members, the company expects to significantly increase headcount in 2025, whilst maintaining its unique culture. This is part of its plans to reach international markets, such as the US, which is valued at approximately $650 billion and will benefit from the platform Buena is building.

Vidu Shanmugarajah, partner at GV, said: “Buena is bringing technology to a space that has historically been offline. By combining a unique AI-led M&A strategy, operational excellence, and a product-first mindset, Buena is completely transforming property management. This is just the start, and we look forward to supporting Buena in changing how people own real estate across Germany and beyond."