Beanstock, the French buy-to-let investment marketplace, announced today that it has raised €12M in its series A funding round led by 360 Capital along with Entrée Capital, PropTech1 and FJ Labs, and existing investors Axeleo and Realty Corporation. Beanstock will use this investment to further grow its market penetration in France, invest in its technology and expand into new European markets.

Tremendous growth in France
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. Less than two years after launching its operations in France, Beanstock is already one of the most successful proptech companies in France. The start-up has assisted more than 350 retail investors in their buy-to-let projects and has €50M assets under management. Beanstock has proven that its solution addresses the new generation’s access to homeownership challenges: 70% of its clients are less than 35-year-old and rent their primary residence in big cities.

With this latest funding round, Beanstock’s ambition is to become the leader of buy-to-let investments in France. The start-up is already present in 20 french cities and plans to expand its footprint to 30 additional cities by the end of 2022. Beanstock intends to triple its team to more than 200 over the next 12 months.

Existing investors Axeleo and Realty Corporation showed their further support by contributing to the round. 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).

 

Invest in technology and data to bring further transparency on the market
With this latest round of funding, Beanstock is committed to take its engineering and technological systems to the next level. The start-up plans to expand its tech team by hiring 50 additional engineers, data scientists and product managers by the end of 2022. Beanstock will continue to streamline and digitize the investment journey, bringing real estate into the e-commerce age. It will also channel the new investment towards developing algorithms and estimation tools enabling individuals to invest from anywhere with precision.

“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”, says Emma Malha, co-founder of Beanstock.

A new offering dedicated to real estate professionals
Beanstock works with more than 1000 real estate agencies in France. The start-up partners with agents to streamline the sale of buy-to-let properties to a global network of retail investors. Beanstock will develop a tailored product offering to agents and real estate professionals, by building a powerhouse of tools and expertise enabling them to better estimate and sell buy-to-let properties.

Expanding into new markets

With this latest funding, 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.

“Reducing the energy consumption of buildings, optimizing 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!” says 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," adds 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,“ says Konstantinos Matsoukas, investor at PropTech1.