Azora invests in Fifth Wall’s first European proptech fund

The new European Fund will invest primarily in emerging European PropTech companies that it believes have the potential to help transform the real estate sector through innovation and technology.

Fifth Wall is the largest venture capital firm specialising in PropTech and has one of the major strategic advisory platforms focused on real estate technology. It has raised over $1.2 bn of capital across its funds since 2016 in three prior funds in North America.
 
Commenting on the investment, Concha Osácar, Azora’s co-founding Partner said: ‘We have always placed considerable emphasis on ensuring that Azora consistently evolves as a business in order to meet the changing requirements of all our stakeholders.  As the real estate sector increasingly, and rightly, shifts to being a service industry, rather than a simple own and lease business, understanding and deploying the best technologies is of paramount importance.  Fifth Wall is undoubtedly a true PropTech pioneer, and our investment into its first European fund allows us to both expand our investment horizon into an emerging sector which offers enormous potential, while at the same time giving us strategic insight into future innovations and technologies that can help us create value for our investors and deliver better service for all our clients and stakeholders.’
 
‘We believe the European real estate tech market or ‘Prop-tech’ market is underpenetrated and has significant room to grow,’  said Roelof Opperman, Managing Director, Fifth Wall. ‘We're excited to work with the Azora team, and our other significant European real estate investors, to identify, invest in, and support innovative real estate technologies poised to revolutionize the industry. We hope these investments will prove to be both financially sound and strategically relevant, benefitting Azora, our other European partners, the Spanish technology ecosystem, and the European real estate tech market, in general.’