EXCLUSIVE: Copenhagen-based PropTech Cortas lands €1.47 million in a pre-Seed round led by PSV Tech

Cortas, a Copenhagen-based PropTech startup, has secured €1.47 million in pre-Seed funding, marking its entrance into the property management technology market. The investment round was spearheaded by PSV Tech, a Nordic-focused venture capital firm with a history of backing successful tech companies. Other notable investors included JRNY Capital, EIFO, and tech entrepreneurs with experience at Danish FinTech Flatpay and EV-charging platform Spirii.

Founded by Christian Pind Schmidt and Frederik Buchardt, both former Thylander Group employees, Cortas aims to revolutionize property management by merging the service and technology aspects traditionally separated in the industry. Unlike competitors who layer technology onto existing solutions, Cortas develops its own tools to manage clients' properties, promising a superior experience for owners and tenants.

The startup plans to launch in Denmark, a market valued at €270 million to €400 million annually, and eventually target the global property management market, which is worth over €400 billion. Despite being labeled as AI-native, Cortas emphasizes that AI is a tool to create real value, not a strategy in itself. The company will focus on automating administrative tasks and leveraging human expertise for optimal results.

With the newly raised capital, Cortas intends to further develop its technology, expand its team, and challenge the established Danish property management market leaders.