Aviv, the entity that manages media group Axel Springer’s classified listings business, has led a €12m ($13.6m) funding round for Spain-based real estate marketplace and services provider Housell, El Pais has reported.
The round also featured private equity firm Cerberus Capital Management, which acquired Housell in November 2017. Aviv supplied approximately 75% of the new funding and will acquire a stake in Housell sized at about 20%.
Housell runs an online peer-to-peer real estate directory that lists residential properties available for sale, with the company collecting a fixed commission on each transaction. More than 2,000 properties have changed hands through the platform since it was launched.
The company was founded in 2017 with $290,000 of capital as an offshoot of real estate services provider Haya Real Estate. Cerberus paid $4.6m to buy the company, according to media reports.