IAD, the leading agency network for the French market, announced it received 300 million euros from American fund Insight Partners, a fund that is part of the battle for CoreLogic between CoStar Group and Stone Point Capital.
On the raised capital, IAD CEO, Clément Delpirou, said:
“The mindset that guides Insight Partners is growth. With this investment fund, we were aligned. We didn't have to convince him to join us. The ability we have had to create our leadership in just twelve years has proven to be a strong argument for our new investors. They are the ones who will now challenge us in our ability to accelerate our growth.”
Delpirou explained that the move isn’t a sale or a takeover. Insight Partners is a new investor in the company. The added cash will help IAD work towards being a competitor on a global scale-- specifically expanding into Portugal, Italy, Germany, and North America.
IAD also plans to use the support to boost technology development, strengthening CRM and introducing AI technology into its offerings, and ramping up its brand.
When it comes to the French stock market, IAD’s network of agents, which already claim a 4% market share in the French real estate transaction market, would become unicorns within that market.
“But vision is radically different from this one. It is important to remember that there is room for all models, it is the end customer the justice of the peace. Our vision for growth is rather that the success of IAD is that of the 14,000 independent entrepreneurs who work daily within our network, and not that of any hegemony.”