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Global property management group Odevo expands into the United States as leading Florida-based property manager joins

01/11/2022

Odevo, an international leader of the traditional property management industry, has established itself in the U.S. with KW Property & Management Consulting, a leading Florida-based property manager, joining the group. This marks both Odevo’s first expansion outside of Europe and its entry into the U.S., the world’s largest market for property management. The U.S. will be Odevo’s fourth market, and the deal will increase Group revenue from $175 million USD to $315 million USD.

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Odevo continues to grow as British Trinity joins the group

Trinity Property Group, one of the largest residential property management companies in theUK, is the latest company to join Odevo. As a result, Odevo now has over half a million homes under management in three European markets and a turnover of SEK 1.7 billion.

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Odevo becomes SaaS supplier to JM

JM will license Odevo’s proprietary platform to manage both its condominium customers and rental tenants. As a result, four Swedish management companies and thus a third of Sweden’s homeowner associations (i.e., 500,000 properties), will now be connected to Odevo’s platform.

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Odevo invests in banking services with acquisition of fintech company Monu

Odevo, which is challenging the property and housing management industry in many ways, not least with its proprietary tech platform, announces the acquisition of fintech company Monu. Monu’s platform enables companies to offer banking services to their customers without having to be a bank themselves. With Monu as part of the Group, Odevo is now taking the step to offer its customers, i.e. property owners and homeowner associations, banking services within saving and lending.

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OBOS invests in new, fast-growing challenger Odevo

Norwegian OBOS has invested in Odevo, the newly launched fast-growing group, and sold its shares in SBC. With this transaction, SBC is now wholly owned by Odevo. This investment is evidence of the confidence OBOS has in Odevo’s development and ambition to challenge the property and housing management industry internationally.

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New, fast-growing international challenger launches in the property and housing management industry

Following the establishment of Nabo on the Swedish market, the international player Odevo has been launched as a challenger to the traditional industry for property and housing management. Since the foundation for the group was laid in 2019, revenue has grown tenfold, and the company is currently present in three markets but plans to enter additional markets also outside Europe in the near future.

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