Infotech

The online broker Pretto challenges the leaders Cafpi and Meilleurtaux



Posted Jan 25, 2022, 5:43 PMUpdated Jan 25, 2022, 6:58 PM

Real estate credit is no longer immune to the onslaught of fintech. The young broker Pretto announced Tuesday a new fundraising of 30 million euros to tackle the hegemony of the giants of the sector.

Pretto is one of the few brokers to promise individuals to be able to take out a mortgage completely online. A challenge for a sector where most loans still go through a physical meeting with the banker, as this is an important event in the life of households.

“This is our third fundraiser in five years of existence,” recalls Pierre Chapon, one of the company’s leaders. In 2021, we reached the €1 billion mark in loan production and we continue to double in volume each year. Serena, Eurazeo and Orange Ventures participated in the operation, alongside the historic funds Kernel, Alven and BlackFin Capital Partners.

Technology platform

Pretto wants to impose itself against the giants of the sector like Cafpi and Meilleurtaux, whose model is based on a network of affiliates and physical agencies. For this, it also announces the availability of its technological tools to professionals and freelancers, who represent the major part of the market.

Not only does its tool aim to make brokers “more productive” by allowing them to draw up more solid files, but it is also a guarantee of “freedom” for these actors, with regard to the fact of integrating a network imposing certain practices, ensure the two co-founders, Pierre Chapon and Renaud Pestre.

Room for improvement

Basically, fintech believes it has room for improvement. For the moment, intermediation, that is to say the share of contracts that goes through a broker, only represents around 40% of mortgage production in France, according to figures from Apic, l Association of Estate Brokers, compared to 80% in the UK.

Moreover, in terms of digitalization, the sector is still in its infancy. Only a tiny part of the production of intermediated loans goes through a digital channel. This is also the case for the leaders Cafpi and Meilleurtaux, which respectively generate several billion euros in loans per year. So much so that Pretto, with a billion euros in loans, claims to be… the leading online broker in France.

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