Zazume Raises €2.5 Million Funding Led By Nordstar And GTV Capital

The objective is to implement an ambitious growth strategy through the acquisition of residential property management portfolios in provincial capitals.

The round is led by the London-based VC firm Nordstar and Spanish venture GTV Capital, a leading Spanish family office making its first entry into the shareholding. The round also includes the conversion of capital previously contributed by Sabadell Venture Capital and other family offices.

The proptech has achieved financial break-even after an intensive period focused on operational profitability. While the company could continue operating without the need for a capital increase it has decided to pursue a more ambitious strategy that allows it to increase market share territorialy without diluting shareholding.

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Currently, with 3,500 properties under management, the company expects to reach more than 5,000 real estate assets by the end of this year, as well as to double its billing. With this distinctive strategy, the proptech aims to surpass 10,000 managed properties in 2027.

Based in Barcelona with its main market in Madrid, the company has a model that integrates highly advanced proprietary technology based on AI with financial services. Combined with a team that brings industry experience and deep sector knowledge with strong execution capacity. Its platform offers a safe, efficient and profitable rental experience for both the small property owner and real estate agents.

With an inorganic growth strategy, more than 50% of this funding round will be allocated to the acquisition of new property management portfolios in provincial capitals. In this regard, Jeroen Merchiers, CEO and co-founder of Zazume, states: "We have identified a huge opportunity to rapidly drive the company forward and help professionalize the sector," and adds: "This capital increase allows us to position ourselves as the best option for small real estate agencies looking to monetize their property management portfolio or even just exchange non-payment insurance premiums."

A Fragmented Market Ready for Consolidation

There are almost 60,000 small real estate agencies in Spain, of which 96% have fewer than 5 employees according to the Sectorial Observatory DBK by INFORMA(*), a subsidiary of CESCE, the leading provider of Commercial, Financial, Sectorial and Marketing Information in Spain.

Traditional real estate agencies are usually focused on buying and selling because it provides a higher profit margin than rentals. In addition, they face a lack of time, size resources and specific digital tools to optimize this market niche. This makes rental a residual market niche for agencies operating with traditional models. Ultimately, they face losing profitability of their long and medium-term rental property portfolios.

Zazume expects to close 4 agreements before the end of the year to improve its position in the country's main markets. These strategic alliances will allow real estate agencies to monetize an asset and leave their clients in the best hands of a specialized player like Zazume.

In April, the proptech initiated this process of strategic alliances with the acquisition in Zaragoza of the first property portfolio, Landa Propiedades, a regional leader.

It has already guaranteed more than €40 million to its property owners in rental income. It also assumes initial expenses and provides personalized financing options to property owners, as it facilitates the management of repairs and renovations.

Investment Axes

Housing in general and rentals in particular continue to be one of the major concerns in society. Zazume believes it is time to professionalize, digitize and consolidate the sector of intermediaries, offering alternatives to the traditional model.

In turn, almost 50% of the investment round will be allocated to marketing and sales. Since the investment from the previous round conducted in April 2025 for €2.3 million was allocated to improving its proprietary technology, unique on the market, and reaching operational profitability. On that occasion, Nordstar, a British fund present in Zazume's capital since its inception, also participated.

According to Ole Ruch, Managing Partner of Nordstar: "We believe Zazume is destined to become the leader of residential rental in Southern Europe, establishing the foundations with proprietary AI technology and having proven the optimization of residential rental management through its quality services and added value."

It is the only platform that helps real estate agencies and agents access the best technologies to optimize property owner experience and opt for greater profitability of their rental real estate assets.

About Zazume

Zazume is a digital platform offering comprehensive rental management services for property owners, tenants and real estate agents. Key services include guaranteed rent, tenant search, rental management software, non-payment insurance, rent advances and tools for rental optimization.