Europe’s next Unicorn?

Place, a US real estate tech start-up, recently raised $100M from a Series A-round with a $1B valuation.

Place offers a service platform to real estate agents in the US. In one year, they have grown from a start-up to a billion-dollar company. That is impressive, but we are not surprised. At Bueno, we understand that to grow a successful fintech business you need to focus on a segment or niche to quickly grow a successful and profitable business.

While both Place and Bueno focus on the real estate market, we have different approaches. Place has a B2B focus, Bueno has a B2C and B2B2C focus. Bueno targets property owners both directly and through our partnership with real estate agents. Place focuses on the US market and its 1.3M real estate agents. Bueno’s market is initially the 2.9M foreigners who own property in Spain, France and Portugal, with an ambition to expand throughout Europe to reach 195M homeowners.

Bueno’s vision is to become the preferred property centric solution platform in Europe. We start by focusing on a niche market with significant pain points - people who own property abroad. This market alone represents €33B in annual property transactions. From 2022, we include domestic second homeowners, increasing our addressable market to €100B per year. From 2024/25 we aim to serve all of Europe, a trillion-euro market.

If Place can achieve unicorn status in a year, what could be a future valuation for Bueno? This is an interesting question. We see fintech start-ups in Europe quickly achieve valuations in the hundreds of millions. Bueno has unicorn ambitions and serves a market desperately in need of disruption through improved, technology enabled service. Uniquely, Bueno has a business model which can enable Bueno to quickly break-even. That may drive valuation to skyrocket in 2022. Discover more at getBueno.com