Press release
Paris, May 3, 2022
#Fusacq #InsurTech #PropTech #Impaidés #Assurance #Courtage #Immobilier #gestionlocative
Odealim, a leading national player in insurance brokerage and real estate financing, today announced the acquisition of the start-up Cautioneo, a new-generation guarantor that insures tenants’ rents, enabling landlords to rent out their property with complete peace of mind. By capitalizing on the technological know-how and unique positioning of the Lille-based proptech company, Odealim is extending its range of protection against the risk of non-payment of rent, and strengthening its national leadership in the rental management market. A natural fit that guarantees Cautioneo invaluable support as it continues its strong growth.
By acquiring 65% of Cautioneo’s capital, Odealim is adding a new building block to the group as part of its development strategy – territorial, digital and product – aimed at covering all needs relating to the real estate market. By integrating Cautioneo into its fold, Odealim is investing in the start-up’s agility and expertise, assets that will enable it to enrich its offering by adding products that complement its own.
Thanks to Cautioneo’s services, Odealim will now be able to offer its landlord clients an alternative solution to its other unpaid rent insurance products. For example, when a tenant’s profile does not meet the eligibility criteria for the Garantie de loyers impayés (GLI), or when a landlord refuses to take out the GLI, Odealim will be able to refer both to a guarantee contracted by the tenant, eliminating the need for a “classic” surety.
The quest for maturity
Now a majority shareholder in Cautioneo, Odealim is injecting funds to enable the start-up to accelerate its rapid growth strategy. This merger – natural given the complementary nature of their respective solutions – offers Cautioneo the opportunity to strengthen its position by benefiting from the network of France’s leading rental guarantee broker.
Co-founders Julien Chenet and David Edery, who remain at the helm of the company, intend to leverage this transaction and support to achieve profitability by the end of 2023. To maintain this momentum, the start-up, which had 12 employees prior to this acquisition, will quadruple its workforce over the same period. The aim for the start-up, founded in Lille in 2017, is to enable all profiles of working people to access rental housing, and for owners to guarantee the profitability of their investment.
A natural alliance for digitalization and innovation
The pooling of their respective expertise offers the prospect of promising joint initiatives. Odealim and Cautioneo are already planning to integrate digital paths for both private individuals and real estate professionals. By placing digital technology and the evolution of their offer at the heart of their thinking, the two players aim to diversify approaches to securing rents through the development of new products directly covering owners and tenants; and to do so in a way that complements the solutions already offered by the group’s various entities.
“We created Cautioneo to make property rental accessible to all profiles, by offering a guarantee to both landlords and tenants. In a tense and distrustful rental market, especially during the current crisis, we are building confidence between the parties by enabling prospective tenants to find accommodation and landlords to secure their investment. It’s a mission that requires substantial investment to develop, but also to maintain healthy, steady growth. That’s why we decided to join forces with Odealim, which brings us over 40 years of expertise in the field, a strong local presence and an extensive network.say Julien Chenet and David Edery, co-founders of Cautioneo.
“We are delighted to welcome Cautioneo to the Odealim family. Its unique and resolutely innovative approach to protecting landlords and tenants against the risk of non-payment appeared to us as an obvious opportunity to extend our field of intervention. Our aim is now to extend this service to customers across all our distribution channels. It’s a significant step forward in our quest for optimal coverage of real estate-related needs, and an exciting adventure to accompany a young French nugget on the road to success”, adds Xavier Saubestre, Chairman of Odealim.
About Odealim
Created through the merger of several regional insurance brokers operating in the real estate market, Odealim has become the leading real estate insurance brokerage specialist in the French market.
Its local presence and powerful network of partner insurers enable Odealim to guarantee its customers, both professionals and private individuals, real local support and tailor-made solutions.
www.odealim.com
About Cautioneo
Cautioneo is a new-generation guarantor. It insures tenants’ rents, enabling landlords to rent out their property with complete peace of mind, and tenants to access housing more easily. In addition to the guarantee, Cautioneo has developed three solutions to facilitate property rental: a calculator that helps tenants assess the amount of rent to which they are entitled, an algorithm that quickly certifies tenants’ files thanks to an analysis of solvency and documentary fraud, and Lokeo, a real estate advertising platform, available to all certified tenants. More information on cautioneo.com
www.cautioneo.com
Press contacts
Agence EPOKA for Odealim
Nicolas Crépin
ncrepin@epoka.fr
06 52 32 10 11
Agence Katch & Reyners for Cautioneo
François de Saint-Germain
francois@katchreyners.com
06 35 51 67 12
