The fresh capital will be used to increase the company’s staff from 50 to 200 and expand to 10 of France’s biggest cities.
This is the third funding round for Proprioo, which raised €5 million and €1 million in previous rounds. Proprioo was launched in 2017.
The company provides property sellers with services including a photographer; help drafting listings; listing distribution on multiple channels, and an agent to guide them through the sale. It charges a commission of 1.99 percent of the transaction amount. Until recently, the company charged a flat fee of €1,990 regardless of the property price.
Proprioo works with 200 real estate agents on permanent contracts. It helped sell 700 properties in 2018. “Our objective is to reach a volume of transactions equivalent to €2 billion in 2020,” Proprioo CEO Simon Primack told Immomatin.