The merger between Hello Syndic and Flatlooker represents a major turning point in the property services sector. These two pioneers, specialising respectively in “new generation” co-ownership management and digital rental management, are combining their skills to create Manda. Joffe & Associés (Thomas Saltiel and Antoine Lamy) acted as advisors to Flatlooker and its historic partners (in particular its founder, Nicolas Goyet, and the funds managed by Partech Partners (Paris Saclay) and Bpifrance Investissement (F3A)) in this transaction.
Manda will be able to draw on the €43 million provided by Naxicap Partners for this investment. As recently as May 2023, this fund took part in the €21 million funding round of start-up Hello Syndic. With the bold ambition of serving more than one million people in France by 2029, Manda is reinventing traditional property services, and is now positioned among the top fifteen players in the sector, serving 40,000 customers, including co-owners, landlords and tenants. Backed financially by Naxicap Partners, Manda aims to offer a credible and innovative alternative to conventional methods, thereby redefining the property services landscape.
To further strengthen its position as a leading group in the property market, Manda has developed an external growth strategy. In February, the company already acquired two co-ownership trustees in the Île-de-France region, and three further acquisitions are planned for the first half of 2024. In addition to the Paris region, Manda is targeting the cities of Lyon, Marseille and Clermont-Ferrand. With this approach, the group aims to reach one million French people within five years. During this period, the company’s workforce is expected to grow from 200 to 1,300.
“Real estate players are facing a bottleneck and are finding it difficult to deal with all their customers’ requests in a timely manner. Manda is transforming this business by adopting a speciality-based approach and processing all incoming requests with the support of artificial intelligence”, the group explained to Maddyness magazine.
