Flatlooker sold to Naxicap

Digital real estate agency specialising in rental and property management joins forces with Naxicap and Hello Syndic to form Manda.

M & A sell side 2024, February

E-commerce & retail

“Both Hello Syndic and Flatlooker use digital technology to renew the customer experience in a traditional sector. We were impressed by the quality of the deals carried out by the teams, the companies’ growth track records, and the expertise and maturity of the management teams. We are convinced of the complementary nature of the teams and services, and of Manda's growth potential.”

Eric Aveillan, Chairman of the Management Board, Naxicap Partners

Founded in 2016, Flatlooker is transforming rental management by offering 100% digital pathways throughout France, for landlords and tenants alike. Operating in some thirty towns and cities across France, the company offers an immersive experience with a virtual tour and video commentary of an apartment and its communal areas. Flatlooker also offers a rental management service to deal with any incidents, rent payments, inventory of fixtures, arrivals and departures, and so on.

By joining forces with Naxicap, Flatlooker is merging with Hello Syndic, its fellow property management specialist, to create Manda, an innovative player in the real estate servicesmarket. Manda is funded by Naxicap Partners, which is contributing up to €43 million to this project.

Manda immediately joins the top 15 in the sector and is aiming for double-digit growth to servemore than a million people in France within five years. Its goal is to offer an alternative to traditional real estate sector operators, using a systemic approach to overhaul the sector's traditional business lines.