Summary

As of 2020, the proptech market, encompassing smart building technologies and Contech for real estate project design, has witnessed a notable evolution driven by the COVID-19 pandemic which has propelled the digital transformation within the real estate sector. France observed a slight decline in the number of proptech start-ups but maintained a maturing market, with a considerable amount raised in funding rounds, albeit at a lower frequency compared to the record investment year of 2019. Global leaders in the proptech space, such as Meero and ManoMano based in France, have continued to scale, achieving unicorn status and expanding their market presence, indicating an overall resilience and growth potential within the market.

Despite a drop in the real estate development and a fluctuation in optimism among professionals compared to previous years, digital tools for property searches and the utilization of construction software like BIM remained in demand. Whereas France saw a room for growth in BIM usage, its proptech investment landscape remained behind, signifying both challenges and opportunities for future market developments.

Real Estate Technology and Innovation: Demand Trends and Growth Trajectories in France

Demand for real estate technology in France, often referred to as proptech, has seen significant growth in recent years. This increase is largely driven by the rising interest in smart buildings as well as an expanded focus on the digitalization of the real estate market. Proptech, which encompasses the application of digital platforms and information technology to real estate, sees its demand in two key segments: smart building technology for property management and maintenance, and contech which facilitates real estate project design.

France has emerged as a European leader in the number of proptech startups, with the French market experiencing a period of maturation. Despite a slowdown in the growth rate of new proptech startups and a slight decline in the total number of fundraising deals, the average amount raised has seen a substantial increase, indicating a more consolidated and sophisticated market. The global pandemic has acted as a catalyst for the digitization of the sector, propelling larger proptechs while smaller, funding-seeking startups face challenges due to a lack of cash reserves.

The advancements in smart building technology, particularly in connected home devices, is a clear area of consumer interest. With between 60 and 70 percent of respondents believing these technologies will alter living habits, the anticipation for such innovation is significant. Nonetheless, only about 30 percent of homes claim to possess such devices, indicating a considerable market potential for growth. Additionally, the pursuit of digital tools in the housing search process has intensified. Property presentation videos, online contract signings, and increased use of digital platforms and apps for property searches have become more common, with younger demographics leading this change.

This trend towards digitalization is further reflected in the popularity of short-term rental platforms and the anticipated preference for private home rentals through websites like Airbnb over traditional professional rentals in the coming decade. Moreover, there is significant room for growth in the construction sector with the adoption of Building Information Modeling (BIM) software. With a majority of developers and half of construction companies not using BIM software as of 2021, French government initiatives such as the BIM 2022 plan aim to increase usage, suggesting that the demand for such digital construction tools will likely skyrocket. Investment in French proptech startups, while robust, has room for enhancement.

With around 75 to 80 active French investors compared to nearly double that in Germany and the highest number in the UK, French proptech ventures could benefit from increased local investment activity.

Leading Innovators in the Proptech Landscape

The proptech arena is a dynamic and burgeoning sector of the real estate market, propelled by technological advancements and the demands of modern living. As we navigate through the nuances of this industry, several companies emerge as significant players, each contributing unique solutions to shape the future of real estate. Let’s take a closer look at some of these trailblazers that are carving their names into the foundation of the proptech market.

Weaving a New Era with Meero

Founded in 2016, Meero has swiftly distinguished itself by revolutionizing the way photographers connect with businesses. What started with a focus on real estate agency photography, evolved into an enterprise that commands a hefty portion of its sales from the real estate market. With a robust network of 58,000 freelance photographers and a clientele of 31,000 corporate entities across 100 countries, Meero simplifies and enhances the production of high-quality images through its AI-driven photo-editing software. The company’s ambition is conspicuous, as it eyes profitability and substantial sales growth in the coming years. The reach of Meero’s operations only reinforces its position as a proptech unicorn and a significant innovator in its segment.

Crafting DIY Success with ManoMano

French start-up ManoMano, founded in 2013, has rapidly become a prime digital platform for DIY enthusiasts, offering an impressive range of interior and exterior design products. Circumventing traditional brick-and-mortar limitations, ManoMano provides a fertile marketplace for merchants and buyers. With the platform hosting 10 million listed products and a base of 7 million active customers, it's clear why ManoMano is making waves. Its founders harbor visions of expanding ManoMano's footprint across Europe, placing a strong emphasis on developing the BtoB segment and pushing forward with innovative logistics solutions. Considered a proptech unicorn with a valuation to match, ManoMano's success trajectory is a testament to its pivotal role in the market.

Other Proptech Pacesetters

While Meero and ManoMano stand out for their significant strides, the proptech sector is teeming with companies making their mark. Other notable start-ups also contributing to the dynamism of the proptech landscape include:

- Luko: Heralded for its innovative home insurance solutions.
- Finalcad: Providing digital tools for construction management, planning, and collaboration.

the proptech market - France

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Number of pages : 30 pages
Format : Digital and PDF versions
Last update : 25/11/2021

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Summary and extracts

1 Market overview

1.1 Definition and scope of study

Proptech, sometimes also referred to as Real Estech, concerns the application of information technology and digital platforms to the real estate market. The proptech market can be divided into 2 segments:

Smart Building facilitates property management and maintenance;
Contech enables the design of real estate projects.

The global proptech market is dominated by the United States, with Europe a distant second. Together, these two continents account for nearly 66.3% of the global market. The number of proptechs in the United States is also much higher than in the rest of the world.

The market is rather concentrated, as it is dominated by a few companies. For example, in 2019, more than half of the total amount raised went to the 10 largest companies. France is among Europe's leaders in terms of the number of proptechs. In fact, the French market is maturing, as can be seen from the slowdown in the number of proptech start-ups and the decline in the number of fundraisings, despite an increase in the average amount raised.

The Covid-19 crisis has accelerated the digitization of the real estate sector, but there is a difference between small and large structures. While the crisis has brought the biggest proptechs to the fore, those looking for funding, which are more fragile, have had a much harder time withstanding the crisis, notably due to a lack of cash.

2 Demand analysis

3 Market structure

4 Offer analysis

5 Regulations

6 Positioning the players

6.1 Player segmentation

Meero
ManoMano
Luko
Finalcad
Colonies
Comet Meetings
Guest to Guest
Onepark
Proprioo
Homeloop
Beeldi
Bellman
Virgil
UKIO
Bricks.co
Idealys
Masteos
Setec
Ocea Smart Building Groupe
Deepki
Planon
Wemaintain
Icare City
Stonal
Hostnfly
Smart renting
Checkmyguest
Matera
Hello Syndic
Check & Visit
Vestalis
Hyppo Immobilier
MerciYanis
Buldi
Nerco Ingénierie Groupe

List of charts

Number of proptech companies worldwide
Size of the French real estate agency market
Sales trends for the real estate development sector (NAF code "4110")
Fundraising for real estate and construction start-ups
Comparison of fundraising in French tech and Real Estech
Fundraising for real estate and construction start-ups
I'm ready to invest in the following connected object or service
I'm ready to invest in a real-time alert for water, gas or fire leaks
Information resources used to find a property
When buying a property, which of the following services is most likely to appeal to you?
Specifically in terms of accommodation, what do you prefer in ten years' time/do you think the French will prefer in ten years' time...?
Total JOUE notices containing the terms BIM or IFC
Percentage use of BIM software by all companies in the construction sector
Number of non-US proptech investors by country
Growth in the number of Real Estech start-ups
Breakdown of proptech companies in the "services" category
Real estate professionals' level of optimism about the future of housing

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Latest news

French Tech: Deepki continues its successful trajectory with over 60% growth in 2023 - 28/03/2024

- Deepki's annual recurring revenue (ARR) in 2023: close to 45 million euros. - ARR growth in 2023 vs. 2022: over 60%. - Amount of funds raised in 2022: 150 million euros. - Number of competitors identified: 230. - Number of employees: 400, half of whom recruited last year. - Number of customers worldwide in 2023: 500, versus 350 the previous year. - Amount raised by the main competitor, Measurabl, in the United States in 2023: $93 million. - Acquisition in 2023: Nooco, a subsidiary of Vinci Energies. - Acquisition in 2022: British competitor Fabriq.

DIY: ManoMano highlights its ManoMano Pro service in new TV campaign - 14/02/2024

ManoMano launched its service for construction professionals, ManoMano Pro, at the end of 2020.
Three years later, ManoMano has attracted around half of the craftsmen in the sector in France, i.e. some 200,000 companies.
ManoMano offers over 19 million product references on its site.

Faced with a depressed DIY market, ManoMano cuts its workforce by a quarter - 18/10/2023

ManoMano is a platform for the sale of do-it-yourself products, with 16 million references.
Co-founded by Christian Raisson and Philippe de Chanville.
The company competes with Leroy Merlin and Castorama.
It plans to cut a maximum of 150 jobs in France and 80 in Spain out of a total of 900 employees as part of a reorganization.
In 2020, ManoMano achieved sales in excess of one billion euros in five European countries (France, Spain, Italy, UK, Germany).

MerciYanis aims to become the leader in office management - 13/10/2023

Total amount of financing raised by MerciYanis: 2.7 million euros Financing previously obtained by the company in 2021: 1 million euros
Current MerciYanis workforce: 17 employees Number of new hires planned within 18 months: 20 people
Year of creation of MerciYanis: 2019 MerciYanis equips 3 million square meters of office space for 200 customers in France
MerciYanis sales in 2022: 770,000 euros
Sales target for 2025: 10 million euros
The digitization of the cleaning sector accounts for half of MerciYanis sales.

Offices: Comet relies on La Défense for growth - 30/08/2023

Comet Meetings is an SME with 180 employees and sales of 27 million euros by 2022.
In July, the company inaugurated a new space on the 37th floor of the Alto Tower, occupying 1,500 m2.
Comet Meetings is also present with the Comet Défense space located in the Coeur Défense tower.
The company plans to open a new facility in Nanterre this year, in Arboretum, Europe's first solid-wood campus, with 25,000 m2 of office and service space.
The campus will be located in a 9-hectare park
Comet will offer 2,300 m2 of office and meeting space on four levels.

Deepki met la main sur Nooco, filiale de Vinci Energies - 25/05/2023

Companies quoted in this study

This study contains a complete overview of the companies in the market, with the latest figures and news for each company. :

Meero

ManoMano

Luko

Finalcad

Colonies

Comet Meetings

Guest to Guest

Onepark

Proprioo

Homeloop

Beeldi

Bellman

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