France-based Matera raises €35 million to grow its residential property management tech across Europe
Summary
Matera, an emerging leader in the residential property management industry, has announced a €35 million Series B funding round led by Mubadala Capital, alongside Bpifrance, Burda Principal Investments, and existing investors Index Ventures and Samaipata. After the COVID-19 pandemic and lockdowns, during which homeowners reconnected with their properties, Matera achieved 300% year-on-year growth, with 3,000 client buildings today; the company plans to double this figure by the end of 2021. In 4 years, Matera has become the 5th largest property management company in France and boasts a 90% satisfaction rate in an industry which suffered from the inertia of traditional actors. The team has built a strong network of institutional and private partners, including CDC habitat, the largest social landlord in France, and the real estate giant Bouygues immobilier. In parallel, the company has grown its local presence with hires in Lyon and Marseille – and intends to repeat this model in the 10 largest French cities by the end of 2021.