French online broker raises €30 million to shake up codes of mortgage lending

French online broker raises €30 million to shake up codes of mortgage lending

French online mortgage broker Pretto has raised €30 million to deploy its platform to all players of mortgage distribution. The round was led by Serena, Eurazeo, Orange Ventures, and Pretto’s historic funds including, Kernel, Alven, and BlackFin Capital Partners.

Founded in 2017 by Pierre Chapon and Renaud Pestre, the startup is on a mission to make the search for a mortgage efficient, simple and fair for everyone. With its technology, users can simulate their loan in less than three minutes and browse for the best rates in the market, all for free. The startup has financed €1 billion in real estate loans during its first four years.

Pierre Chapon, Co-founder of Pretto said: “We operate in a fast-growing market. Brokerage accounts for 40% in France, but it's much more in other countries. It's 80% in the U.K.”

Currently, in hypergrowth stage, the company has 170 employees and 160 positions are open this year. More than 150,000 buyers were advised by Pretto in the last five years. Its customers are mostly young and 80% are financing their homes.

“We will be able to go further and pursue our mission to make the mortgage market fairer and help homebuyers in their life project. We see this fundraising as an accelerator for this mission,” Renaud Pestre, Co-founder of Pretto said.

“Despite the covid, the real estate market is in hypergrowth. Getting a mortgage is still a stressful and time-consuming process. Pretto is in the process of profoundly changing the mortgage market, making it simple and fair for everyone,” said Sébastien Le Roy, Principal at Serena.

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