Beanstock, a buy-to-let investment marketplace raises €12M Series A led by 360 Capital

Beanstock, a French rental investment platform that allows people to buy and manage property online, has completed a €12m Series A round led by 360 Capital, in addition to three new international contributors: Entrée Capital, PropTech1 and FJ Labs. Its historical investors, including Axeleo Capital and Realty Corporation, renewed their commitment by participating in this round.

They were joined by business angels such as: Giorgio Tinacci (CEO of Casavo), Alister Moreno and Pablo Fernandez (founders of Clikalia), Victor Lugger (CEO of sunday), Arkadi Jampolski and Jan Hase (founders of Wunderflats), Vincent Huguet (CEO of Malt), Raphaël Di Meglio (CEO of Matera), Jean-Charles Samuelian (CEO of Alan) and Oscar Pierre (CEO of Glovo).

“PropTech is a fast-growing industry that is disrupting the huge traditional real estate market”, says Thomas Nivard, investor at 360 Capital. “Beanstock is perfectly positioned at the intersection of key segments such as investment, rental management and construction. We are delighted to support the Beanstock team, which has demonstrated great mastery in aggregating these bricks to provide its clients with a high quality service.”

Founded in 2020 by two entrepreneurs with HEC degrees, Emma Malha and Alexandre Fitussi, the start-up intends, with this fundraising, to become the “leader” in rental investment in France. Since its creation, it has helped more than 350 individuals with their rental projects and now manages a property portfolio of €50m. Beanstock is particularly aimed at the new generation, since 70% of its clients are under 35 years old and rent their main residence. “Already active in 20 French cities, Beanstock’s services will be extended to 30 new cities by the end of 2022”, says the company, which also hopes to triple its workforce over the next 12 months, hiring 100 permanent employees.

“We are all very happy with this fundraising and proud of the recognition of the work of our 60 employees”, says Alexandre Fitussi, co-founder of Beanstock. “This new round of financing will not only allow us to accelerate our deployment in France and to set our sights on the international market, but also to invest in our technology to make the investor’s experience incredibly simple and enjoyable.”

Accelerating growth in Europe
Thanks to this round of financing, Beanstock also intends to invest “massively” in the technological development of its platform: “In addition to digitising the entire investment process, we want to provide users with the most reliable estimation tools on the market so that everyone can invest with precision. These tools are based on algorithms that analyse and update tens of millions of data points. In this sense, 50 engineers, data scientists and product managers will be recruited by the end of 2022.”

Reducing the energy bill for housing, optimising profitability, finding one’s way through the complex world of property loan rates, managing rentals, investing away from home… All these subjects are obstacles that we are removing thanks to our expertise and our technology”, says Alexandre Fitussi. “Clients are moving forward in their lives with serenity and pleasure: it’s a great satisfaction to have such a positive impact. We are very excited about what we are preparing. This is just the beginning.”

Finally, the start-up, which has now developed a network of 1,000 real estate agencies, will expand into several European markets. In detail, the platform will open in several countries: Spain, England, Italy, Greece, Belgium, Germany, Portugal and the Netherlands. “The creation of a property portfolio is too often perceived as an obstacle course reserved for a privileged or experienced minority. Beanstock has set itself a mission: to give all individuals who wish to do so the keys to financing, buying and managing investment properties in France or Europe, thanks to a fully digitalized process”, concludes Emma Malha, co-founder of Beanstock.

Startups which create platforms making it easier to buy “buy to let” properties are proliferating. In the US there is Roofstock, Mynd, Awning and Doorvest, among others. In Europe, there is, for example, GetGround or Bricklane. Beanstock.fr, a French buy-to-let investment marketplace that allows individuals to buy and manage properties online, has made hay as Spanish, English, and Germans flock to investing in French real estate because the yields are high.

Beanstock has now raised a €12M Series A round led by 360 Capital. Also participating was Entrée Capital, PropTech1 and FJ Labs, and existing investors Axeleo and Realty Corporation. They were joined by angel investors Giorgio Tinacci (CEO of Casavo), Alister Moreno and Pablo Fernandez (founders of Clikalia), Victor Lugger (CEO of sunday), Arkadi Jampolski and Jan Hase (founders of Wunderflats), Vincent Huguet (CEO of Malt) and Raphaël Di Meglio (CEO of Matera).

With the new round, Beanstock plans to consolidate its growth in France develop its platform and expand to other European countries.

Co-founder Emma Malha said in a statement that Beanstalk was integrating and streamlining all the steps of a buy-to-let project (property search, mortgage brokerage, refurbishment and property management). “This allows us to make the transaction much more efficient and cost-effective,” she said. As a mortgage broker, it can also offer financing solutions for clients.

Beanstock also claims to be able to identify properties that are more profitable than the market and to guarantee rental revenues for one year. “All properties listed on our marketplace are exclusive (or “off-market”) and vetted by experts. We have an asset-light expansion model, which allowed us to roll out our operations in 20 cities in France in less than a year. We’ll use this model to expand into new European markets,” said Malha.

Source : techcrunch _ businessimmo

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