May 27, 2022

Breaking News Breaf

Real estate: raises 100 million euros

Real estate is more and more the business of online agencies such, which brings together 3,500 independent representatives. the Nantes group Oryx, of which is the main brand, comes from raise 100 million euros to accelerate its development.

The operation sees the arrival of new shareholders including investors Tikehau Capital and Abénex while the managers, Michel Le Bras and Christine Cadrot, access the majority of the capital. These two managers took over the company in 2016 with the majority support of Sparring Capital (ex-Pragma), which remains today in the round table but in a minority position.

Annual growth of 35%, which had only 500 agents five years ago, has increased its turnover tenfold, to 75 million euros last year, which represents an average growth of 35%. The company, whose head end employs 80 employees in Nantes, now claims the third national rank of agent networks behind those of IAD and Safti. But for Michel Le Bras, this rate of progress can be further amplified.

The fundraising makes it possible to aim for a prospect of 300 million euros in five years. The network should then have 10,000 representatives in France and abroad. “We want to become the first global player in real estate by offering the most complete offer on the market: transactions in residential, life annuity, new, business assets, but also rental management and financing”, states Michel Le Bras.

Sales trigger

According to Michel Le Bras, the funding will support the development of Oryx’s technological platform “in order to provide IT tools for digital prospecting for better proposals to buyers”, explains the manager who talks about big data with the cross-referencing of information (cadastres, land values, market data, etc.) to promote the initiation of the sales process.

Investment in communication will also have to be supported, notoriety also being the sinews of war. For Emmanuel Laillier, Director of Private Equity at Tikehau Capital, the transaction will also allow the acquisition of additional networks, Oryx having already recently taken over Immoréseau and Rezoximo and also aims for development beyond France.