Drooms wins European Property Finance Award 2018

21. November 2018

Drooms receives Innovator of the Year award by Property Investor Europe. Award highlights Drooms innovative role in the real estate transaction business.

Frankfurt, 21. November 2018: Drooms, Europe's leading virtual data room provider, has been recognised at the 2018 European Property Finance Awards in the Innovator of the Year category. The winners in the various categories were selected by a panel of experts from the finance and real estate industries and were honoured on Tuesday 20 November in Frankfurt for their achievements in the European transaction business. Drooms has been recognised for its innovativeness, which directly benefits customers when completing their transactions in the Drooms NXG data room.

Drooms is the leader of technical development in the virtual data room space in order to consistently improve the efficiency, transparency and security of transactions for all parties involved. With its recent implementation of blockchain technology in the Drooms NXG data room, for example, all data generated when a transaction is completed can now be archived on Drooms servers and accessed securely using blockchain technology. With Blockchain secured archiving, data cannot be lost or tampered with. The data space can be activated or restored at any time too. With this change the use of conventional data carriers suddenly becomes obsolete. Drooms is the first data room provider in the world to use blockchain technology in the real estate and M&A transaction business.

Artificial intelligence speeding up processes

With the implementation of artificial intelligence (AI) and machine learning in the Drooms NXG FINDINGS MANAGER tool, Drooms has also significantly contributed to the automation of due diligence in real estate transactions. The use of AI makes it possible to speed up the whole process, allowing users to search through large volumes of documents at high speed and in a targeted manner.

In the course of its continuous expansion, Drooms now employs more than 130 people from 27 countries and is represented internationally in the most important European markets. In addition to its corporate headquarters in Frankfurt, the SaaS provider also has locations in Munich, Vienna, Paris, London, Amsterdam, Milan, Madrid and Zug.

Alexandre Grellier, CEO of Drooms states: "Our goal has always been to implement the most effective technology for the benefit of our users, providing them with real added value. We are therefore particularly pleased that our work has been recognised by Property Investor Europe. For all of us, the entire Drooms team, this award is a further incentive to transcend technological boundaries and drive innovation. That is Drooms' philosophy and we will continue to work hard to ensure we meet our goal."