Berlin proptech startup McMakler scores €50 million in Series C funding

robin@tech.eu

McMakler, a Berlin, Germany-based proptech startup, has raised €50 million in Series C financing in a round led by Target Global and Israel Growth Partners (via Handelsblatt).

Existing investors, including Frog Capital, also chipped in, although it’s worth noting the round comes with a rather big debt component of more than €10 million. Two years ago, the company secured €16 million to boost its growth.

McMakler uses a transparent pricing model and combines a traditional, personal real-estate advisory service with technology that allows landlords to save up to 80% of the costs compared to conventional real-estate agencies.

The company says it intends to use the funds to enhance the in-house tech and digital tools to increase efficiency to provide a faster and more transparent marketing process for both sellers and buyers, as well as to further expand its teams in Germany, Austria and France.

In 2018, the startup achieved 500% year-on-year increase in transaction volume with a self-reported procured real-estate volume of €400 million.

McMakler currently employs 450 people, including 255 permanently employed real estate agents, in more than 100 locations and urban agglomerations.

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