Spain: 238 companies and $150M of proptech investment in 2018

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

In 2017, there were 218 companies of this type in Spain, according to the new map of Proptech.es, promoted by Savills Aguirre Newman. 39% of them are in Madrid, while Barcelona 34%.

The proptech sector is consolidated in Spain. In the Spanish market, there are 238 companies of this type, in line with the 218 companies of the previous year, according to the map of Proptech.es, driven by Savills Aguirre Newman. However, the capital they have raised is higher: while in 2017 they raised sixty million dollars, in the last year the investment in proptech shot up to $150 million.

Part of the increase is due to the Spotahome investment round, in which it raised 40 million dollars. According to Savills Aguirre Newman, the data indicates the natural consolidation of the sector due to the concentration of companies by categories and the evolution of startups.

From 2013 to 2018, 174 proptech start ups were created in Spain, with an average of thirty new companies per year. In the last financial year, the figure dropped to twenty new companies. "This maturity is explained by the digital transformation that Spanish real estate has experienced and the introduction of numerous technologies, which have modified the perspective of how to manage properties," the consultant stresses in a press release.

The majority of Spanish proptech companies are marketplaces, with 52 companies. Followed by management platforms, trying to facilitate new ways to simplify the process of managing an asset, with 37, and specialized peer-to-peer (P2P), which allow owners to rent or sell without intermediaries, with 36 Business. In total, they generate 5,500 jobs. 39% of them are in Madrid, while Barcelona 34%.

Savills Aguirre Newman expected to be over 2019 and 2020 when further expansion in the number of technology companies to the tertiary real estate sector, especially P2P and IoT occur. If at present, 90% of the companies focused on P2P offer their services to the residential sector, the forecasts indicate that these begin to operate in more specific plots such as offices and retail.

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

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