Matera raises $43 million in a Series B funding round led by Mubadala CapitalFunding
At a Glance
Mubadala Capital led a $43 million Series B fundraising round for Matera, a French start-up developing residential property management SaaS. The firm has grown swiftly, and it now manages 3,000 buildings, an increase of 300 percent year over year. By the end of 2021, Matera plans to manage 6,000 properties, with 40 in Germany. The company presently employs 200 employees and wants to add another 50 soon to work on its exit strategy.
Matera, a french-startup, has raised $43 million in a Series B funding round led by Mubadala Capital. Other participants include Bpifrance, Burda Principal Investments, as well as existing investors Index Ventures and Samaipata.
Matera intends to expand to Germany as a result of today’s investment round. The company has been quickly growing, and it currently administers 3,000 buildings, a 300 percent increase year over year. Currently, Matera is used by 60,000 people.
The firm is developing a residential property management vertical, SaaS. In France, co-owners of a building’s common area have the option of bypassing the corporation that manages residential building management and doing it themselves. It might be beneficial for small complexes with ten or fifteen flats. There are fewer connections to maintain, expenses to pay, and tasks to do in general.
When co-owners switch to Matera, they have access to a web-based platform and a mobile app to examine the information and examine all contracts with various partners such as elevator maintenance, heating maintenance, water, and energy. If they see anything unusual, they can call a Matera residential building specialist. They can assist the co-owner(s) in complying with the law and filing documents on their behalf.
When it comes to organizing an annual co-owner meeting, the platform may also help. With a forum, an on-demand letter service, and other features, it can let you interact with all co-owners. Essentially, each co-owner receives their login credentials.
The business came out with a new service in October 2020 to address a more significant building management stack. Clients of Matera may now use the site to control the bank account of their building. Co-owners may pay directly on Matera’s platform, and everyone may keep track of the budget over time.
This past year allowed us to prove the relevance of our model and our value proposition, showing why Matera is the perfect solution for our times. The crisis sped up the digital transformation of our market, while at the same time increasing the attachment to our homes and buildings.Raphaël di Meglio, CEO, and co-founder
He added that their clients wanted more transparency and cost savings, which they were able to provide.
Matera aims to manage 6,000 properties by the end of 2021, including 40 in Germany. The company currently employs 200 people and plans to hire another 50 more.