More than $235m has been raised by PropTech companies in Europe so far this year, with almost half of these transactions involving companies based in the UK or Germany.
Over $136m was raised in the ten largest PropTech deals in Europe in the first three quarters of the year, which is equal to 57.9% of the total capital raised in the region during the period, with seven deals involving PropTech companies based in the UK and Germany.
Berlin-based Digital estate agency McMakler, raised $56.5m in a Series C round in Q2 2019, which is the largest PropTech deal in Europe this year to date.
ProntoPiso is a PropTech company based in Barcelona and has developed an online platform that advises real estate transactions and advances money from the sale of houses. The company raised a $15.7 debt facility from Sabadell Venture Capital and Inveready in July 2019 to fund operations through 2020 and is the largest PropTech deal in Spain this year.
Flatfair is the fastest growing deposit alternative in the UK and is already available in hundreds of letting branches across the country. The solution means that landlords can offer tenants the option to pay an affordable membership fee instead of an expensive tenancy deposit. The company raised $11m in a Series A round led by Index Ventures in August 2019. Flatfair will use the funds to hire a significant number of product engineers, data scientists and business development specialists. This was the largest PropTech deal in the UK this year and the company will also invest in building out new features as it looks to expand its platform with a focus on making renting fairer and more transparent for landlords and tenants.
