Monga aims to standardize processes and make property management more fluid
Business Immo: What led you to found Monga?
Avidan Koubi: During my seven years in the real estate sector with the investment bank Kalstone, where I worked with professional investors, I noticed that property managers and lessors (from private to institutional) were encountering difficulties with property management, particularly in terms of technical management. Occupants who encounter a problem often feel that they are not being helped quickly enough, and that they lack visibility regarding the follow-up to their request. The property manager, on the other hand, is overwhelmed by the time-consuming, repetitive and low-value-creating process of dealing with technical requests, and often finds it difficult to identify the right service provider at the right price. Finally, the fragmentation of the nearly 400,000 companies in the building sector makes it difficult to rationalize the processing and cost of interventions. Monga was therefore launched in January 2020 with the ambition of standardizing processes, bringing greater fluidity to exchanges and optimizing the value of the fleets covered, while offering a quality of service unprecedented in today’s market.
BI: What solution does Monga offer property managers/administrators and lessors to solve these problems?
AK: With my partner, Kevin Valensi, we conceived Monga as a digital solution first and foremost, since the main point of friction is in the transmission and readability of information, with a very strong service underpinning. First of all, we provide real estate professionals with a dashboard enabling them to generate assignments on subjects ranging from repair and maintenance to structural work, for all building trades and all over France. Above all, it makes it possible to manage and track each job step-by-step, integrating all associated documents (estimates, invoices, job reports).
The second tool is an application for occupants, which also enables them to create a digitalized maintenance log for their lot. With this platform, which we have designed to be very didactic and easy to use, occupants can report all their problems and service requirements, indicating the nature of the problem and the urgency of the request. They can then validate their request and schedule an appointment with the service provider. What’s more, the tool enables the property manager to keep track of the technical status of the lot in a single database, thus helping to predict equipment obsolescence and predictive maintenance of the assets covered.
What’s more, Monga relies on a network of professional partners who have undergone a rigorous audit process, and who are also equipped with the Monga interface for building professionals. Thanks to the economies of scale and partnerships we’ve developed, we’re able to achieve prices that are 10% to 15% lower than the benchmark for the same services.
BI: Where does Monga stand in its development?
AK: Our first customers included the Foncia group , Nexity and Groupe Duval. Thanks to our nationwide expansion, we now have 40 customers, representing over 300,000 lots, including rental managers, property managers and lessors, as well as insurance brokers and assistance services. Today, most of our business is in the residential sector, particularly in response to the strong return of institutional investors to this asset class. However, our solution can be deployed in all asset classes, including office and retail.
In this respect, we have just won a tender for a complete refurbishment operation (structural work, earthworks and all trades) on a surface area of around 2,000 m² located in the 16th arrondissement of Paris, against industry majors such as Dumez Groupe Vinci and Spie Batignolles. For this project, we were commissioned by the owner’s family office to identify and challenge the players best able to meet the project’s technical and budgetary constraints.
BI: What are your growth ambitions?
AK: Our aim is to cover at least 500,000 lots by 2022, and to continue expanding our network of professional partners nationwide.
Having recorded sales of over €1 million in the first year of business, and proven the profitability of our model, we are aiming for sales of €5 to €7 million and annual recurring income of over €400,000 by 2022. To establish ourselves as an indisputable player in the market, we are working hand-in-hand with leading real estate structures, with whom synergies in several verticals are currently being deployed.
