IAD Group, a web-based network of independent real estate agents based in France, has raised €300 million ($364 million U.S.) from an American private equity firm. The deal will help IAD Group strengthen its position in France and accelerate its international development.
The private equity firm, Insight Partners, is a global venture capital firm that invests in high-growth technology companies, including Twitter. Clément Delpirou, CEO of IAD Group, said the investment “is not a sale, a transfer or a change of control. We remain French. We are now in the big league.”
He added: “This new partnership reinforces our development ambition in France and internationally. It will allow us to invest even more heavily in the media and to continue to provide our advisers with differentiating technological tools.”
IAD was founded in 2008 and reported annual revenues of €278 million in the 2019-2020 financial year. The company works with around 14,000 independent real estate agents, most of whom are based in France.
The group recently launched in Germany. The company has also built a presence in Portugal, Spain and Italy. Last year, IAD Group acquired Neximo, a Mexican digital real estate agency, branching out into the Latin American market.