Masteos, a turnkey rental investment proptech announces that it has completed a new €12 million round of financing (extension of its Series A), in which EDF took part via its corporate venture capital (CVC) EDF Pulse Ventures(1).

SWEN, NCI and several historical shareholders also invested. The funds will be used to create an energy renovation offer that will be integrated to Masteos’ services.

Masteos, in collaboration with the EDF group, aims to create a standardized, turnkey solution to assist homeowners in carrying out their work, making energy renovation simple and accessible.

EDF and Masteos support individuals in the energy renovation of their rental property

Decarbonizing housing is at the heart of the EDF Group’s raison d’être, and is the core business of IZI by EDF, a consumer brand created in 2019 to carry energy renovation services for housing and home charging for electric vehicles.

In addition to the EDF Group’s capital investment, a cooperation agreement has been signed between Masteos and IZI by EDF to develop operational synergies between the two entities. The recognized expertise of IZI by EDF, a leading player in France in the field of energy renovation, will enable it to support Masteos’ customers in their projects, and contribute to the elimination of heat sinks. 

Energy renovation of real estate, a fast growing market

As foreseen by the Climate and Resilience Law (22 August 2021), housings with an energy performance diagnosis (DPE) of “G” will be banned from being rented by 2025, and those with an “F” rating by 2028. According to the National Observatory for Energy Renovation (ONRE)(2), 7.2 million homes are considered as “heat sinks”. As a recognized player in the rental investment market, Masteos is directly affected by these rental bans.

According to an ADEME study, the energy renovation market in France is estimated at €182 billion by 2028 (€30.4 billion per year)(3). The Masteos Real Estate Observatory(4) states that 30% of French people intend to carry out energy renovation work in their homes in the next 12 months.

Masteos, the startup that simplifies and digitises rental investment

Founded in 2019, Masteos supports individual investors at every stage of their rental investment, taking care of the most complex and time-consuming parts of the operation. The acquisition, renovation, furnishing and rental of properties are monitored directly via an app by the investor.

Already present in 20 cities in France and 3 cities in Spain, Masteos intends to become a major player in rental investment and energy renovation in Europe by 2024. To achieve this, the startup intends to continue developing its technology, intensify its network in France and expand into European markets.

Since the creation of Masteos 4 years ago, we have managed to raise a total of €68 million. So far, these amounts have enabled us to strengthen the digitalization of our solution, to intensify our network in France and to consider a development strategy on the European market. We wanted to be even more ambitious and attack the energy renovation market, which is inseparable from the rental market. On this point, the synergies between Masteos and EDF are obvious. This new €12 million fundraising and the signing of this cooperation agreement will enable us to support more landlords in their energy renovation projects by offering a turnkey solution.

Thierry Vignal , President and co-founder of Masteos

Decarbonizing housing, which is responsible for 23% of France's greenhouse gas emissions(5), and helping to eliminate the number of energy wasters is at the heart of the EDF Group's raison d'être. Given the new regulatory constraints, the rental investment market is key to the massive development of comprehensive energy renovation. Through its approach, dynamism, and value proposition, Masteos is ideally placed to make energy renovation accessible and easy to access for individual investors.

Julien Villeret , Chief Innovation Officer at EDF group

(1) EDF Pulse Ventures aims to develop EDF Pulse Holding's Investment portfolio by Identifying new activities and Innovative solutions.
(2) The housing stock by performance class as of January 1, 2022 - in French (PDF, 842 kb)
(3) Markets and jobs in the main sectors contributing to the energy transition in France - Source Adème - in French (PDF, 383 kb)
(4) Study conducted by Toluna and Harris Interactive for Masteos, carried out online from November 23 to December 5, 2022 among 8,159 Europeans from 8 countries (Germany, Belgium, Spain, France, Italy, Netherlands, Portugal, United Kingdom), including 1,015 French. * Study ADEME.
(5) Construction and environmental performance of the building [Ministry of Energy Transition] - in French