Paris-based proptech Matera raises €35 million in Series B round, aims to become THE European residential building management provider

Parisian property tech startup Matera has raised €35 million in a Series B round led by Mubadala Capital. As with all things French, naturally, Bpifrance took part, alongside Burda Principal Investments. Existing investors Index Ventures and Samaipata also participated. Matera is reporting that the new capital will be used to fuel its European expansion with a launch in Germany slated for later this year which will see 40 staff members onboarded.

Founded in 2017 by Jeremy Krebs, Raphael Di Meglio, and Victor Prigent, Matera is cutting out the middleman and enables co-owners of residential buildings to manage their properties directly via their platform.  When using Matera, co-owners can manage the efficiency of their property with full control and transparency resulting in an average savings of 30% of operational costs.

“The past year gave us the opportunity to prove the relevance of our model and our value proposition, showing why Matera is the perfect solution for our time,” says CEO DiMeglio. “The crisis sped up the digital transformation of our market, while at the same time increasing the attachment to our homes and buildings. Our clients wanted more transparency, and to save money and that’s exactly what we can bring them.”