Munich Startup: What does your startup do? What problem do you solve?
Christina Mauer, Einwert: Anyone who has ever been involved in the acquisition or sale of a property knows that a property appraisal is essential, but it can also be very complicated and time-consuming. Particularly in the professional real estate market, valuation reports that must be prepared by certified appraisers are absolutely necessary for financial statements and transactions. Due to manual processing, these can significantly delay the transaction or financial close process and also create considerable coordination overhead for the client. Further use of the valuable content and data from the valuation report has been difficult so far due to the analog transmission format – mostly PDF.
As the first hybrid appraiser, we streamline the entire property appraisal process by combining cutting-edge technology with the human expertise of our appraisers under one roof, delivering high-quality valuation reports in the shortest possible time and a seamless digital experience. Manual paperwork is completely eliminated throughout the entire appraisal process and replaced by digital tools and interfaces. Through our digital approach, we are also able to incorporate data-driven insights such as ESG ratings.
Legally binding valuation reports for the professional real estate market
Munich Startup: But that’s been around forever!
Christina Mauer: There are already many successful startups that have taken on the topic of digitizing property appraisal. However, these are ‘informal’ valuations that estimate a property’s value using complex algorithms (AVM – Automated Valuation Model) without review by a certified appraiser and without a legally binding valuation report. Particularly for the private market, that’s a real win. For the professional real estate market, such valuations are certainly also very exciting, but they cannot replace legally binding valuation reports. Since we, both founders, worked for many years in the professional real estate market, we set ourselves the goal of revolutionizing formal property appraisal.
Munich Startup: What’s your founding story?
Christina Mauer: We, both founders, identified a massive digital and innovative deficit in the appraisal industry during our doctoral studies on property valuation. After working for many years at renowned companies in the real estate industry and experiencing the problem firsthand, we set ourselves the task of fundamentally changing the appraisal process and, through the founding of Einwert, creating an unparalleled digital quality experience for both clients and appraisers.
‘War for talent’ as a major challenge
Munich Startup: What have been your biggest challenges so far?
Christina Mauer: Certainly, the ‘war for talent’ is a major challenge for most companies – particularly in the tech industry – especially in the early stages. The first team members are extremely important for further development and shape both the company culture and the image the company projects to the outside world. For us, it was clear from the start that we wanted to build a team of A-players, and we succeeded. It certainly took some patience, but the wait was worth it! In the meantime, we are a large team spread across Germany and growing month after month.
Munich Startup: Where do you want to be in one year, where in five years?
Christina Mauer: After we had a successful market entry last year and were already able to provide many customers with a new valuation experience, this year is about expanding our business – geographically and product-wise. In 5 years, we will be represented throughout Europe or even globally and, with our platform, become the go-to solution for all questions and applications related to property valuation.
Munich Startup: How have you experienced Munich as a startup location so far?
Christina Mauer: From our perspective, Munich meets all the requirements to be an attractive startup location. The city attracts many talents through its high quality of life and top universities, which on one hand is a blessing especially when building a team, but on the other hand naturally drives up costs. Fortunately, we have received a lot of support from the very beginning through founder networks, incubators, and other organizations that specialize in supporting startups. We initially received support from the incubator Xpreneurs in Munich Urban Colab, and we are now located in Werk1 in the Werksvier district and grateful for the wonderful support we have received in both networks.
Einwert: Funding of over 2 million euros
Munich Startup: Quick exit or long-term vision?
Christina Mauer: As a venture-funded startup, our goal is of course a successful exit. After completing a successful pre-seed financing of 2 million euros last year, it’s still far too early to think about an exit, but certainly it’s a major and important goal that we’re pursuing.
