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This investment carries considerable risks and may lead to a loss of the entire assets invested. Projected returns cannot be guaranteed and may be lower than expected.

Mineko | Overview

Mineko digitally checks tenants' utility bills for errors and ensures that tenants get the refund they deserve.
Pitch Video


Since 2014, Mineko has checked over 4,500 utility bills for tenants. While doing so, we have noticed that 9 out of 10 bills are incorrect. Consequently, tenants in Germany pay a total of €5 billion in excess of the actual utility costs each year. Mineko helps clients get this money back.

Key Investment Facts

 

Crowd Voting

Mineko offers its Companists a special safety net, crowd voting, thus reducing the risk for Companists and strengthening their role as investors.

Mineko will receive 2/3 of the investments immediately after the campaign. The last third will be deposited in an escrow account protected against insolvency, and it will not be paid out before the Companists have agreed to the payout by means of a majority decision (weighted according to investment amounts).

The vote is scheduled to start 6 months after the end of the crowdfunding campaign. At the request of Mineko, the vote may also take place earlier than that. If the Companists do not agree to the payout, the remaining third will be repaid to them free of charge.

It is up to the Companists to decide whether the remaining third will be paid out to Mineko, which will increase the Companists' share, or whether the remaining third will be repaid to the Companists, thus causing their share to remain 2/3 of the total investment. To help the Companists make an informed decision, Mineko will report on its business development in an investor update.

We at Mineko have deliberately decided to offer crowd voting. We are convinced that we will achieve a successful market launch of our technology, and we want you to judge us by the success of our work. Therefore, we believe crowd voting is a great idea and will increase our investors‘ confidence in Mineko.

 

Roughly 20 million apartments in Germany are private rental apartments. Only very few tenants are aware of the exact legal basis for their utility bill. In most cases, tenants trust the values listed in their utility bill and are happy when they get a refund. However, almost all utility bills are incorrect as our analyses have shown. As a result, the majority of German tenants pay too much for utilities each year.

 

The problem

 

This problem is due to the management of rental property. Looking at the billing process, one notices the root of the problem: Property owners use standardized processes and software to manage rental apartments. Indeed, utility billing is a mass market, and individual factors are not constantly checked or taken into account. This lack of case-by-case assessment leads to systematic errors in utility bills at the expense of private tenants. Costs that may not be passed on to tenants or incorrect distribution of costs between tenants are but a few examples of common errors. In addition, landlord and tenant law is frequently changing because of new laws, so landlords are rarely aware of the most recent rules and regulations themselves.

Finally, the German Federal Court of Justice (BGH) has recently decided (BGH VIII ZR 93/15) to reduce the formal requirements for utility bills. This means that utility bills no longer have to include any details and explanations related to the calculation of the total costs that may be distributed between tenants. As a result, it will become even more difficult for tenants to understand and check their utility bill in the future.

The fact that demand for the Mineko (whose name is based on the German term "Mietnebenkosten" – utilities) service is increasing shows that tenants are becoming increasingly aware of this problem. In 2015, we saw our business grow by 150 %, and our website is currently visited by 30,000 people each month. The 4,500 utility bills we have checked so far have shown that 9 out of 10 utility bills are incorrect. To date, Mineko has enabled its clients to receive a total of €1.1 million in refunds on their utility bills.

 

User Traffic

 

Mineko provides tenants with a fast and easy way of having their utility bill checked by experts. Moreover, Mineko educates people in terms of utilities and provides private tenants with a reliable analysis of their bills that is also digital and convenient.

Please note
The acquisition of this asset involves considerable risks and can lead to the complete loss of the assets used.

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Contact Us
Your contact for all questions about investing on Companisto:
Andreas Riedel
Investor Relations

Toll-free phone number for investors

0800 - 100 26 70 (DE)
0800 - 10 02 67 (AT)
0800 - 10 02 67 (CH)

Service hours Mo-Fr 9 a.m.- 7 p.m.

Companisto GmbH
Köpenicker Str. 154
10997 Berlin
TÜV geprüftes Online-Portal | Companisto
Source: Own research. Based on data from the German Private Equity and Venture Capital Association - BVK, among others.
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