Berlin-based prop-tech McMakler is quickly establishing itself as one of the fastest-growing online realtors in Europe. It’s raised more than €50 million ($56.9 million U.S.) in a Series C round led by Target Global, Israel Growth, and Frog Capital. The company will also receive more than €10 million in debt financing.
McMakler is active in Germany, Austria, and France. It operates a hybrid business model, combining its online real estate marketing services with digital analysis and technologies. The company also offers personalized advice from local brokers.
Its investors seem to think McMakler is on to something. “McMakler is part of a new wave of digitization changing the real estate industry,” Tiger Global general partner Shmuel Chafets said. He added that the company exemplifies how technology can become a mediator in a market driven by realtors.
McMakler wants to use the new capital to improve its in-house technology and digital tools. It also plans to add to its staff base of 450 employees. Overall, the company has bigger plans, aiming to become the key leader in its industry.
“The continuous and sustained growth of the company since its inception shows that we are on the right track with our hybrid business model,” founder and CEO Felix Jahn said. “Our focus is still on improving the service quality in real estate to bring it up to a new level. With this latest funding round, we’re well-equipped to establish McMakler as the leading hybrid real estate agent in Europe.”