In a significant development within the proptech sector, Libeen has successfully closed a financing round amounting to €25 million, with Andbank stepping in as the principal investor through its subsidiaries MyInvestor and Actyus. This round also saw participation from notable investors including Cusp Capital, Íñigo Juantegui—co-founder of La Nevera Roja—Enrique Linares, co-founder of Plus Partners and Letgo, and Juan Velayos, founder of JV20.
The Madrid-based company, which has thus far cultivated a portfolio valued at €9.5 million and serves 33 users across Madrid and Valencia, operates under an innovative model known as SmartHousing. This system ingeniously intertwines rental payments with savings, effectively allowing users to accumulate funds for a down payment on a home. By allocating a portion of the rental payment towards this goal, Libeen claims to facilitate a savings rate of approximately 20% of the requisite down payment for a mortgage.
The newly acquired financing is poised to bolster Libeen’s expansion efforts within the Spanish market. Since its inception, the proptech has proudly reported that “100% of its customers secure a mortgage through our operational model, yielding an average savings exceeding €50,000.” The process is straightforward: Libeen purchases the property selected by the client, establishing a contract that includes an initial deposit of 5% alongside monthly payments. Notably, around one-third of each payment is earmarked for the eventual purchase, enabling clients to formalize a mortgage and transition to homeownership within a span of three to seven years.
Looking ahead, Libeen’s portfolio is projected to generate €400,000 in rental income by 2024, with aspirations to reach €1.5 million within the same year. Beyond its growth trajectory in Spain, the company has ambitious plans to integrate international talent into its workforce by 2025, invest in cutting-edge technology, and align its operations more closely with the Sustainable Development Goals (SDGs) outlined in the United Nations 2030 Agenda.
In a landscape where innovation meets necessity, Libeen is not merely navigating the complexities of the real estate market; it is redefining the pathways to homeownership for a new generation of buyers.
