Real estate platform Zefir has raised €20 million ($22.7 million U.S.) in funding, which the France-based IBuyer will use to add new services, expand nationally, improve its operational efficiency and enhance its position in online real estate sales.
“With this new fundraising, our ambition is to shake up real estate codes and make the selling or buying experience as simple, immediate and fluid as possible,” said CEO and co-founder Rémy Fabre.
“We are working on additional services in order to enrich the platform, to further improve Zefir’s operational efficiency and to become the key player in the sale of real estate online. With Sequoia’s strategic support, we are well on our way to achieving our goal of achieving €1 billion in transactional volume this year.”
The investment round was led by U.S. investment fund Sequoia Capital.
“We have been impressed with the ability of the Zefir team to overcome the complexity and high transaction costs that have so far prevented innovation in the French real estate market,” said George Robson, partner at Sequoia Capital.
“Buying or selling a home is one of life’s most stressful events and we are delighted to support Remy and Louis in their mission to make the process simpler, faster and safer.”
Founded in 2020 by Fabre and Louis Lambert, Zefir seeks to make real estate sales “simple, serene and fast.” The Paris-headquartered company buys property directly through “simplified, digitized and secure processes” intended to replace intermediaries in a few clicks.
According to company data, it registered a transaction volume of €200 million ($228 million U.S.) in 2021, and is aiming to reach €1 billion in 2022 —1% of the French real estate market — through national development, service improvements and increasing headcount by 150.