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Drooms launches free-to-use B2B software – “LIFECYCLE” – for the real estate market

March 21, 2023

• Focused on the M&A and Real Estate Market
• First ever free-to-use B2B data room
• Coherent pricing model

Frankfurt am Main, 21 March 2023 – Drooms, the leading virtual data room solution for real estate assets in Europe, is launching its new product “LIFECYCLE”: Customers will be able to access Drooms data rooms in three different versions, including as a “free-to-use” application. In this basic version, all participants in real estate, M&A or other transactions are able to securely store, organise and view all their asset documentation in one single platform and make it available to other stakeholders or transaction participants if necessary. Thus, asset managers can stop wasting time trying to locate documents and focus on more valuable tasks such as raising the value of their assets. They can also initiate the transaction process with the click of a mouse.

“With Drooms LIFECYCLE, we are offering one of the first free B2B software products for the real estate and finance industry. This is a major milestone and brings us a big step closer to our vision of a 360° platform for real estate and other assets,” explains Alexandre Grellier, CEO and founder of Drooms. “In the current economic climate it is becoming increasingly important for market participants to have all information and documentation ready and organised in one place to be able to react quickly, efficiently and cost-effectively to changing market conditions. We provide them with the tools to do so.”

“The modern transaction process is highly demanding – thousands of documents have to be organised and readily available. The amount of information property owners need to provide has increased significantly. In the due diligence process, numerous legal documents must be accessed, evaluated, and verified. At a minimum, these documents include the title, leases, zoning regulations, surveys, tax certificates, and the seller’s financial records and operating statements. Often, there are missing documents that have been lost during the lifecycle of an asset. Our platform supports assets such as real estate throughout their entire lifecycle and thus ensures consistent and accurate documentation,” explains Jan Hoffmeister, also CEO of Drooms.

Drooms offers the new LIFECYCLE product in three categories: The free Essential version, which includes all functionality related to document organisation; the Advanced version with additional selected AI applications from Drooms and a full text search, even in scanned documents, for 19.90 Euro per user per month; and finally, the Premium version for 49.90 Euro per user per month, which includes SSO and an AI-based translation tool for all uploaded documents, in addition to a dedicated contact person. All three versions are backed by 24/7 customer support.

“Ongoing documentation of properties can be expensive, especially for smaller market players. With our free LIFECYCLE application, we are not only making the market more transparent, efficient and secure, but also fairer,” explains Javier Meseguer, Chief Revenue Officer at Drooms. “Lost documentation can be detrimental to the final sale price of an asset and ultimately negatively harm the ROI for investors. With Drooms LIFECYCLE, all stored information can be kept organised and up to date on the platform and can be accessed by all stakeholders at any time, from anywhere. Drooms customers will have a full overview of all their asset documentation and can see exactly what information is missing. They will also be ready to transact when the opportunity strikes, rather than wasting valuable time chasing files. This all results in more valuable assets, faster sales and higher profits.”

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