Unlatch completes USD5.8m financing round led by AXA Venture Partners
AXA Venture Partners has led a USD5.8 million financing round in Unlatch, a French digital real estate sales company, including USD4.5 million in equity and USD1.3 million in debt.
The deal is meant to strengthen Unlatch's position in the market and to accelerate the international growth of the business, particularly in Spain and the UK.
Launched in 2018 by François Marill, Thomas Rivoire and Olivier Adam, Unlatch is a business to business software solution dedicated to property developers, brokers and social landlords.
The health crisis has had an accelerating effect on another fundamental trend, the digitisation of the real estate sector, according to AXA. Unlatch recorded a 25 percent increase in its activity since mid-March 2020.
"The Covid-19 crisis has been a catalyst to faster adoption of digital solutions. Unlatch has anticipated this movement and will continue to innovate in France and internationally," said François Robinet, managing partner of AXA Venture Partners.
The fresh capital will be used to enhance the platform with new functionalities, said the company. By choosing AXA Venture Partners, Unlatch is targeting the European market as AXA has offices in Paris and London, as well as New York, San Francisco and Hong Kong.
After having set up operations in Belgium in autumn 2019, Unlatch plans to launch in Spain and the UK in 2020. "We are very pleased to join forces with AXA Venture Partners to implement our international development strategy and we welcome François Robinet who joins our board.