Proprioo has raised €20m ($22m) to fuel further expansion, less than a year after the French proptech start-up completed its last funding round. Proprioo sells properties on its platform but uses valuations and photographs provided by real estate agents. It charges 1.99% commission compared with the national average 5%. The company is also working in China, where it recently launched an app that allows users to buy property for as little as $10. Backers included GFC, Rocket Internet and Picus Capital. Co-founder and CEO Simon Primack said the firm had a sales target of about €1bn within two years.
Proprioo has raised €20m ($22m) to fuel further expansion, less than a year after the French proptech start-up completed its last funding round. Proprioo sells properties on its platform but uses valuations and photographs provided by real estate agents. It charges 1.99% commission compared with the national average 5%. It plans to expand from its Paris base to 40 more French cities. Backers included GFC, Rocket Internet and Picus Capital. Co-founder and CEO Simon Primack said the firm had a sales target of about €1bn within two years.