ENTER (formerly baupal) receives 19.4 million to promote digitalisation in energy efficient homes
Berlin, 21. April 2023. The climate tech start-up ENTER accelerates. Following the seed financing round at the end of 2022, the Series A financing now already followed. Investors include renowned VC firms such as COATUE, Foundamental, Target Global, A/O Proptech, and Partech. ENTER now has €19.4 million in growth financing at its disposal to consistently pursue its vision of becoming Europe's leading company for energy-efficient retrofitting and thus making a significant contribution to reducing CO2 emissions of residential buildings.
Thanks to ENTER, the path to a sustainable home becomes more accessible, faster, and optimized: after completing a digital survey developed by ENTER, customers receive a transparent assessment of the energy status of their building within minutes. Quickly and easily, it is then possible to see how much can be saved through various renovation measures. ENTER then provides energy consultation, develops an individual energy renovation roadmap (iSFP), and takes care of the appropriate subsidy applications. In this way, the measures can be implemented in a convenient manner and at favorable rates, accompanied and advised by ENTER. The reduced CO2 and lower energy costs will subsequently benefit both the environment and the homeowner.
Justus Menten, Co-founder, and Managing Director of ENTER, is an architect and himself a certified energy efficiency consultant (dena): "Currently, around 200,000 properties are renovated in Germany every year. But to achieve our climate goals, it must be more than one million. Today's certified energy efficiency consultants cannot achieve this goal in the traditional way. Although the training of new advisors is already running at full speed, it will take several years before sufficient capacities are available in Germany. This is where ENTER comes in. We are increasing the productivity of energy efficiency consultation by 400 percent and thus reducing the bottleneck at record speed." Another obstacle is financing: according to surveys, 75% of homeowners fear that they cannot afford energy-efficient renovations. "In many cases, however, this is not true if you take the right measures and make the right use of state subsidies. Thanks to ENTER, the right measures can be planned in the optimal sequence with a maximum of subsidies. With a comprehensive on-site analysis followed by a virtual consultation, we help homeowners understand the energy status of their building and make all the relevant decisions for a CO2-neutral home," explains Menten.
ENTER’s successful conclusion of Series-A financing, despite the difficult market environment for start-ups, proves investors are also convinced by the Climate- Tech company’s business model. In addition to the investors, ENTER - previously known as baupal until early 2023 – is supported by renowned business angels and start-up experts, including Flink founder Oliver Merkel, McMakler co-founders Hanno Heintzenberg and Lukas Pieczonka, taxfix COO Dr Daniel Kreter, Medwing founder Johannes Roggendorf and DST Global co-founder Tom Stafford.
Max Schroeren, Co-Founder and Managing Director of ENTER: “We have increased our revenue by more than six-fold in recent months and continue to be on a very strong growth path. With this financing round, we can now accelerate ENTER's further business development even faster and speed up the transformation to CO2-neutral living. Our solution enables millions of homeowners to make energy improvements to their homes, and we are proud to be supported on this journey by investors such as COATUE, A/O PropTech, Foundamental and Target Global."
Jess Clemans, Investor at A/O PropTech: "The greatest CAPEX supercycle our world has ever seen is underway, with the world needing to spend $51 trillion (before 2050) making its buildings green to achieve a carbon-neutral world - and Europe is leading the charge. Fueled by soaring energy prices, regulation, and public sentiment, demand for energy efficiency retrofits is at unprecedented levels in Europe. However, the under-digitised workflows and overworked installer base threaten to crack under this strain. Enter’s digital-first one-stop-shop supports homeowners from the initial energy audit to contracting installers and, ultimately, to the provision of financing. With this, Enter is creating a better experience for homeowners and easing the workload for installers. As supporters from day one we are thrilled to welcome such a great group of new investors to the table and to continue our support of Enter".