Fifteen months after raising €2m* in funding, PropTech Monga has gone from strength to strength. The list of developments is long: a stronger team (30 employees in total), new customers and/or partnerships, and a broader range of services.
“Our value proposition is in line with the market,” stresses Avidan Koubi, co-founder of a company which, as previously announced (see our article), is aiming for sales of €25 million by 2023.
“It is finding favour with property managers, asset managers, users and investors, particularly value-added investors… Always with a view to optimization. Its SaaS – “a Software and a Service” and not “Software as a Service”, as its co-founder likes to put it – thus makes it possible to quantify time savings in technical building management and optimize related costs.
The word “optimize” comes up again and again. Avidan Koubi insists: “Optimize the technical management of real estate assets to… increase the value of the assets covered, optimize capex to maximize the IRR of operations, and streamline time-consuming tasks to increase productivity. Today, in the current market context, our solution is in great demand. It concerns all players and is being deployed across all asset classes.
The pitch is convincing. Initially positioned on the residential market, PropTech has opened up to the hotel, logistics, retail and other segments. The company’s clients include Corum in Luxembourg, a prime example of its international development, as well as Checkmyguest,Herrmann Immeubles, Groupe Terrot and Duval, “one of our first institutional clients”, explains Avidan Koubi. “The group first put its trust in us and tested us on the management of six initial sites concentrated around the Paris Basin. Last September, 75 sites were added, across all asset classes and spread throughout France.”
But that’s no reason to lose your sanity. “Even if our proposal is in line with the market, we remain conservative and are anticipating possible adjustments in business activity, linked in particular to obtaining permits in Paris during the period of the Olympic Games,” stresses Avidan Koubi.
15 months ago, he claimed to have no shortage of ideas. That hasn’t changed. “We want to consolidate what we’ve already achieved, and constantly improve the quality of our services, in order to gain even greater market share by 2025-2026. This will involve the deployment of Blue, an energy renovation service aggregator, Kanopi, a photovoltaic shade installation service – currently being rolled out by Groupe Duval in some of its parking lots – and a maintenance contract tracking module, to name but a few. “Feedback from our users enables us to evolve our offering and develop new functionalities,” says Monga’s CEO.
* The financing round was led by Axeleo’s PropTech I fund (CDC, Allianz, Groupe VYV), accompanied by a pool of business angels represented by Pauline Duval, CEO of the eponymous group.
