Disrupting the traditional real estate market, French buy-to-let investment marketplace Beanstock has raised €12 million in funding. The Series A round was led by 360 Capital and saw the participation of Entrée Capital, PropTech1, FJ Labs, and existing investors Axeleo and Realty Corporation.
With this latest round, the proptech firm plans to increase its hold on its home turf France. It is already present in 20 French cities and plans to expand its footprint to 30 additional cities by the end of 2022 in Spain, the U.K., Italy, Greece, Belgium, Germany, Portugal and the Netherlands.
Founded in 2020 by Emma Malha and Alexandre Fitussi, Beanstock offers retail investors access to the tools and resources needed to ﬁnance, acquire and manage buy-to-let properties entirely online. The platform has assisted more than 350 retail investors in their buy-to-let projects and has €50 million in assets under management.
Emma Malha, co-founder, Beanstock said: “Building wealth through real estate is often perceived as a complex journey only accessible to a privileged minority of people. We have created Beanstock to give all individuals the tools and information they need to ﬁnance, acquire and manage buy-to-let properties entirely online.”
Alexandre Fitussi, co-founder, Beanstock added: “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.”