A French buy-to-let investment marketplace, Beanstock, has raised €12 million in Series A funding. The investment round was led by 360 Capital along with Entrée Capital (invested recently in Payaut and Packfleet) 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).
Growth and expansion plans
With the ambition of becoming the leader of buy-to-let investments in France, the startup already operates in 20 French cities and plans to expand its footprint to 30 additional cities by the end of 2022.
Apart from France, Beanstock intends to accelerate its European expansion, to further break down geographical barriers and expand the buy-to-let investment market. The marketplace will be launching operations in Spain, the UK, Italy, Greece, Belgium, Germany, Portugal and the Netherlands.
Also, Beanstock intends to triple its team to more than 200 over the next 12 months. It is committed to take its engineering and technological systems to the next level. The startup plans to expand its tech team by hiring 50 additional engineers, data scientists and product managers by the end of this year.
“Building wealth through real estate is often perceived as a complex journey only accessible to a privileged minority of people. We have created Beanstock with a clear mission: give all individuals the tools and information they need to finance, acquire and manage buy-to-let properties entirely online”, said Emma Malha, co-founder of Beanstock.
“Reducing the energy consumption of buildings, optimising rental yield, understanding the complexity of mortgage rates, managing tenants, investing remotely. All these issues are barriers that we remove thanks to our expertise and technology. Customers move forward with their investment with peace of mind: it’s a huge satisfaction to have such a positive impact. And we’re very excited by what we’re building!” said Alexandre Fitussi, co-founder of Beanstock.
“Proptech is a fast-growing industry, disrupting the huge traditional real estate market. Beanstock is perfectly positioned at the intersection of key segments such as investment, rental management and construction. We are delighted to support Beanstock’s team, which has demonstrated its ability to aggregate these components to provide its clients with a high quality service,” added Thomas Nivard, investor at 360 Capital.
“Investing in real estate assets is perceived as a complex and non-transparent process that creates high barriers to entry. After seeing various approaches, Emma and Alex convinced us that the “Beanstock way” removes the friction of a real estate transactions from start to finish and therefore enables people like you and me to benefit from the enormous potential that lies behind this asset class,“ said Konstantinos Matsoukas, investor at PropTech1.
Helps retail investors!
Founded in 2020 by ex-Glovo entrepreneurs, Emma Malha and Alexandre Fitussi, Beanstock is on a mission to give all retail investors access to the tools and resources needed to finance, acquire and manage buy-to-let properties entirely online.
Beanstock has proven that its solution addresses the new generation’s access to homeownership challenges. With a team of real estate and mortgage specialists and state-of-the-art technology, the platform estimates the financials, return on investment and potential for capital growth of inspected and vetted properties.
Beanstock evaluates buy-to-let properties based on their projected returns and provides users with the tools and information they need to invest with confidence from anywhere in the world. The startup helps individual investors at every step of their journey, including property search, mortgage applications and property management.
The startup has assisted more than 350 retail investors in their buy-to-let projects and has €50 million assets under management. Around 70% of its clients are less than 35-year-old and rent their primary residence in big cities.