French proptech startup Papyhappy specialises in helping seniors find appropriate housing – an ordeal that is often distressful for families. Founded in 2016, the startup has raised a round of €1.5 million to accelerate its growth across France and in Europe. The financing round was led by new investors BDR IT and CFB Croissance & Innovation, as well as existing investors Bpifrance and Groupama Paris Val de Loire.
Founded in 2016 by Joachim Tavares in Joigny, Papyhappy’s platform offers services to facilitate the search for senior housing. With an aging population, especially for countries in Southern Europe, the market for these services is growing, and PapyHappy is planning expand its services to Spain in early 2019.
Joachim Tavares, founder of Papyhappy, said: “The success of this fundraising is a new pledge of confidence from our historic partners, Bpifrance, and Groupama Paris Val de Loire. We are delighted to have BDR IT and BFC Croissance & Innovation as new shareholders and we thank the Caisse d’Epargne and the Banque Populaire de Bourgogne-Franche-Comté for their support. We can now increase our development in France and offer our innovative services to European seniors in 2019.”
Anthony Faurand, Investment Officer at CFB Croissance & Innovation, said: “We are delighted to have made an investment in Papyhappy. These additional financial resources will enable the company to accelerate its growth momentum. This investment reflects our desire to expand our top-of-the-line interventions to support innovative companies.”
Christian Attard, BDR Invest Equity Director, added: “The relevance of the services that Papyhappy offers to the host institutions of seniors and their entourage convinced us to support this company that reflects strong values, led by Joachim Tavares and his team, and shared by BDR IT. The experience of its leader in the sector, the membership of the Silver Alliance and the quality of partnerships that this young company has formed are all assets to facilitate its commercial development.”