Building the Future of PropTech with Wunderflats

“We believe that everybody should be able to live and work anywhere”, says Arkadi Jampolski, COO and Co-Founder of Wunderflats. His words reflect the passion and purpose that drives him and his team forward.

Wunderflats is revolutionising apartment hunting in Europe. Their online platform seamlessly connects tenants, landlords, and businesses, offering affordable and efficient furnished apartment rentals. Wunderflats prioritises apartments listed for at least a month, making it a preferred choice for foreign professionals and individuals facing housing challenges.

Notable Features:

• Verified Listings: Wunderflats ensures the legitimacy of landlords and their apartments.
• Smart Matching: With an extensive inventory of over Smart Matching: With an extensive inventory of almost over 40K apartments across Germany, France, and Austria, finding the ideal one can be daunting. Wunderflats’ smart matching system simplifies the process by presenting users with the best-suited options.
• Efficient Transactions: The platform facilitates the entire rental process, streamlining the experience for all parties involved.
• Cutting-Edge Technology: Wunderflats’ in-house development team leverages technologies like Node.js and React to create a user-friendly interface and enhance the overall user experience.

View Wunderflats’ Tech Stack here.

Highlighting a pivotal moment at Wunderflats

“A defining moment would take you back to 2015 when we had our first booking, which is a unique story”, tells Arkadi with a smile on his face. It was a year of transformation, a shift away from their initial focus on student accommodations to a bold venture into the realm of international professionals, forever altering their trajectory in the housing market.

In a serendipitous twist, two visionary Czech founders from San Francisco were seeking housing in Berlin to embark on the Microsoft Accelerator Program, a tech-powered launchpad for aspiring entrepreneurs. At that precise juncture, Wunderflats had apartments sprinkled across South Germany and Spain, but none graced the vibrant streets of Berlin. Ever the enthusiasts for embracing change, Arkadi and Jan swiftly sprang into action. Jan’s Berlin apartment underwent a metamorphosis, emerging as a shining star in Wunderflats’ listings, ready to house the ambitious Czech duo. Jan bunked with Arkadi for three months, a period in which they meticulously devised their new blueprint for catering to their evolving target market.

“That was our first booking from our core target group, and since then, we have been acquiring and growing the apartments for these skilled professionals”. Since that fateful transaction, Wunderflats has continuously amassed a portfolio of apartments catering to skilled professionals. Among their clientele, software developers dominate the scene. The magic ingredient that keeps these discerning renters content is the hassle-free experience offered by Wunderflats. They no longer need to deal with the challenges of online apartment hunting. Instead, while landlords lease their dream spaces with confidence, thanks to Wunderflats’ meticulous verification process and streamlined digital payment system.

In a world rife with online scams, Wunderflats stands as a beacon of trust, firmly committed to dismantling uncertainty and winning hearts one successful rental at a time.

Maintaining a competitive edge and staying ahead of the competition

Jan and Arkadi’s core beliefs as the founding team mean it all boils down to prioritisation before capabilities. Many businesses tend to prioritise maximising profit, often by raising prices and cutting costs. This approach can lead to suggestions to further slash expenses, and Arkadi believes this combination can ultimately spell doom for companies. He asserts that the key to staying ahead of the competition begins with setting the right priorities.

In the case of Wunderflats, delivering value is paramount. This means providing value not only to landlords and tenants but also to the team. By following this approach, Arkadi explains, a company can experience dynamic growth and cultivate a loyal customer base. This, in turn, adds value to shareholders by establishing strong relationships and a solid foundation, paving the way for significant financial growth and innovative plans in the future.

The Future of Proptech

Arkadi’s predictions for proptech industry’s evolution over the next few years and how these align Wunderflats’ goals and aspirations are that unlike typical B2C businesses like selling shoes, the real estate customer is fundamentally different. When dealing with real estate, it’s essential to recognise that digitisation in this field won’t happen overnight. There’s a lot of frustration from investors, tech companies, and proptech firms who feel that real estate customers are not adapting quickly enough to digital solutions. However, explains Arkadi, “it’s crucial to understand that digitising the real estate industry is not as simple as pushing a button”. Real estate projects involve enormous capital investments, and any rapid change could have significant financial implications. Real estate businesses typically operate on thin profit margins, and a digitisation project, if not executed correctly, can eat into those margins or even double the cost. Startups, even if they have promising solutions, may not be able to instantly scale to meet the demands of a company with hundreds of thousands of apartments due to the inherent risks.

So, in the coming years, Arkadi sees three key developments:

1. The end of complaining: The industry will gradually stop complaining about the slow pace of digitisation in real estate as the challenges and complexities involved become more apparent.
2. Capital market adjustment: The capital market for PropTech should adjust its expectations for exit times. Instead of the typical five to seven-year exit window, a more realistic expectation might be 10 years. This shift will accommodate the slower adoption rate in real estate but will likely involve larger volumes when successful.
3. Earlier bundling: In technology, we often see services being bundled or unbundled as new technological solutions emerge. In real estate, due to the importance of trust and quality, bundling services are more natural. Therefore, we can expect to see more services being sold as bundles to real estate customers earlier in the industry’s evolution compared to other sectors.

In summary, the real estate industry is a unique and challenging landscape, and its digitisation will follow its own pace and patterns, ultimately reshaping how businesses operate and interact with customers.

Cracking the Code on Proptech Fundraising: Insights from an Entrepreneur

Arkadi’s proptech fundraising wisdom boils down to two key points:

1. Knowledge is Power: Invest in a TechCrunch Plus subscription (€20-€30) and devour their fundraising content. Dive into 50 articles and dissect 50 fundraising decks. This insider knowledge will equip you for the fundraising game.
2. Courage is Key: In the world of real estate, public markets, and entrepreneurship, resilience is non-negotiable. Embrace rejection with the zeal of a salesperson; it’s part of the entrepreneurial journey. Have the courage to step out of your comfort zone. Investors admire those who stand firm in their vision, no matter the hurdles.

In short, Arkadi’s mantra for fundraising and entrepreneurship is simple: Be unflinchingly courageous and unwaveringly committed to your vision. These traits define the unstoppable entrepreneur.