Paris-based proptech Proprioo raises €20 million

Paris-based proptech startupProprioo has raised €20 million from existing shareholders, including GFC, Rocket Internet, and Picus Capital, less than a year after its last round. Founded in 2016, Proprioo sells properties on its platform, deploying a real estate agent to give a free estimate and take photos within 24 hours. The startup charges a commission of just 1.99% – compared to a national average of around 5% – and offers a range of tools to make the real estate process more efficient. The new funding will allow Proprioo to accelerate its development in France, and continue its expansion into 40 French cities, representing 50% of the real estate sector in France.