Paris-based Masteos has raised €40 million in a Series A investment round, just 9 months since bringing home €15 million in a seed round provided by Daphni. The new figures on the balance sheet are slated to be used to further fuel the company’s international market expansion plans as well as further refine its technologies.
Despite layoffs, rising inflation rates, and housing prices that saw a sharp upturn thanks to a global pandemic, it would appear that there are in fact, individuals who just can’t be bothered with the tedium of having their money make more money, particularly in the rental property investment sector.
First, there's the need source these properties; a day better spent out on the boat, don't you think? Then it’s a missed morning run at Val d'Isère when it comes time to purchase, say nothing of the holiday in the Maldives that will need to be postponed when it comes time to renovate, furnish, and decorate these money makers. And then actually manage them? Mais non.
Thankfully, Masteos has assembled a service that will allow me these people to not only simply pay someone else to do it, but one that can be done remotely, all through a mobile app. With the newest round of capital, Masteos reports that new features will be developed including an improved matching algorithm, the ability to track each step of the renovation and furnishing process, and last but not least, monitoring of the financial performance of said rental property investment.
Sadly, only the French are privy to such luxuries at present, however, the company plans to be active in Belgium and Spain in the first quarter of 2022, in the United Kingdom and Germany before the end of the year; and in Italy, the Netherlands, and Portugal in 2023.
“Our goal is to allow anyone to invest in rental properties across Europe, directly from their smartphones. Our customers can visit properties in 3D on the app, monitor the progress of renovations, manage tenants, and fill out any documents necessary to the investment process in just a few clicks,” commented Mateos co-founder, and seasoned tax and real estate law firm executive Thierry Vignal.