Vienna Insurance Group (VIG) has signed a cooperation agreement with Austria-based international PropTech company GROPYUS to provide insurance, assistance services, and financing, while also supporting the company’s planned expansion to Central and Eastern Europe.
VIG’s partnership with GROPYUS began as early as 2021 with VIG’s investment in the company, and now a further cooperation has also been established.
Founded in 2019, GROPYUS is focused on sustainable real estate development using regenerative materials, backed by managers from technology, robotics and construction industries as well as investors such as FAM AB, MANTARAY Holding and Luxor Capital Group LP, among others.
The 300-people-strong company has locations in Austria, Germany and Liechtenstein and is currently planning and implementing several projects in the D-A-CH region.
As part of the VIG cooperation, expansion within the CEE region is also planned.
The partnership with the VIG Group covers the acquisition of the property, the construction and its financing, the use of the buildings as well as insurance solutions and other services via the integrated GROPYUS Smart Living platform.
“In GROPYUS, VIG has found an ideal partner with whom to further extend its commitment to affordable housing for a broad cross-section of the population,” said CEO Elisabeth Stadler.
“This partnership aligns with our goal of establishing additional social sustainability measures as part of the ‘VIG 25’ strategic programme and investing in an ecosystem for affordable housing. We are also aiming to cover fundamental needs of existing and potential customers with this move. We believe that supporting affordable and sustainable housing is one of the most pressing topics of the century.”
Markus Fuhrmann, co-founder and CEO of GROPYUS, also commented: “Our vision involves completely rethinking the approach to construction and living. GROPYUS is the first company worldwide to view the development of real estate as A SINGLE holistic product: From planning and design right through to manufacturing, construction and ultimately operation of the buildings, GROPYUS is for the first time delivering everything from a single source.”
“In Europe’s most state-of-the-art construction element production facility, we produce complete building components using a highly automated process involving robots,” added Philipp Erler, co-founder and CTO of GROPYUS.
“The focus here is on digitalisation and conserving resources. We are also taking ‘smart living’ to a whole new level with our specially developed operating system for our buildings. The result is sustainable, affordable and smart living for everyone.”