A fast-growing residential estate agent in Spain with a tech platform at its heart has succeeded in raising capital for further expansion.
Barcelona-based proptech, Housfy, has sold more than 5,000 properties, 3,000 mortgages, and has managed more than 1,000 rentals since its inception to already become one of the top 5 real estate agents in Spain, claiming to save up to €20,000 for clients for each transaction.
In a Series B funding round, the company has attracted €30 mln from investors led by Frog Capital, a specialist software scale-up investor in high-growth European software companies. Other investors include Banco Santander, DN Capital, Seaya Ventures, Aldea Ventures, ICF, and A/O PropTech - Europe’s largest PropTech venture capital firm.
Housfy’s product is described as providing an ‘end-to-end’ residential real estate service. From the platform, users can manage any transaction for their home including buying and selling, mortgage services, rentals, refurbishments, moving between homes, services for real estate companies, and insurance brokerage services.
The company expects to grow net revenue by 200% year-on-year to €43 mln and staff from 370 to 500 by the end of the year.
Albert Bosch, CEO and co-founder, said: ‘This funding allows us to further drive the growth of our ecosystem of real estate services that we are building. We have the means to open and grow different business units, which, given their interconnectedness, will provide a better experience for users. Users will be able to find services for everything relating to their home in one platform.’
‘The latest fundraise will allow Housfy to expand its market-leading position throughout Spain and across the rest of Europe,’ explained Kia Nejad of A/O PropTech.
‘Housfy provides an invaluable service to those buying, selling, or renting a home. The residential property market is fragmented into siloed services that create an inefficient and unsatisfactory customer experience. By building a unified residential services ecosystem, Housfy has a proven, powerful, scalable product that makes navigating the property market easier and cheaper for the end-user.’
Since inception, the proptech has raised a total of €52 mln from investors including Seaya Ventures, DN Capital, Torch Capital, Cathay Capital, Frog Capital, and Banco Santander.
Its fundraising success is happening while records are being broken in Series B rounds for proptechs. Just weeks ago, Immo Capital revealed it had raised $75 mln (€69 mln) in what is Europe's largest Series B funding round by a European proptech to date.