French proptech startup illiCopro raises €1.5 million for its condo management platform

illicopro

Paris-based illiCopro‘s condo management platform allows residents of a property to manage their buildings without going through a professional property manager, promising a reduction in expenses for residents of up to 50%.

The startup today announced a funding round of €1.5 million from Samaipata and existing investor Kima Ventures.

IlliCopro was started in 2017 by three young graduates who, like many French people, had to deal with difficulties with professional trustees for their buildings – from exorbitant fees to slow response times.

Its safe and intuitive platform allows resident councils to manage their buildings in just two hours a month, for only €7 per month per apartment. The platform also provides super simple forms for residents to deal with accounting and legal issues. All residents are able to view their balance and property documents online.

The startup’s platform also offers financial, legal and operational functions that allow residents to find the best service providers at the best rates, as well as a forum for residents to communicate and exchange best practices between buildings.

With the new funding, the company will expand its sales team and hire experts to answer specific questions from its clients, starting with lawyers and accountants to manage payment and insurance issues. Illipro expects its team, which currently has 15 people, to double this year.

The startup now oversees the administration of 300 condominiums through its platform, for a total of more than 6,000 apartments that were previously managed by professional administrators. IlliCopro’s goal is to expand to reach 1,000 clients in 2019.

Raphaël Di Meglio, co-founder and CEO of illiCopro, said: “As they grow, the quality of services offered by professional condominium managers often deteriorates. IlliCopro is positioning itself as an alternative to these managers and, as such, is commited to maintaining an optimum level of quality for our clients.”

He added: “Our service is based on technology, but also with a human element, and we must strengthen our teams to guarantee fast, efficient and quality support to all our users.” 

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