Madrid-based smart-housing startup Libeen has raised €25 million in a combination of debt and equity financing, as Vestbee was told. Led by Andbank through MyInvestor and Actyus, with support from Cusp Capital, and will be used to improve housing accessibility in Spain.
- Founded in 2019 by José Manuel Cartes González and Sofía Iturbe Cobos, Libeen offers a Smarthousing model designed to make homeownership more accessible for younger generations.
- The model lets clients save for a home while renting, by putting part of their monthly rent toward building equity. With just a 5% initial deposit, Libeen buys the property the client selects, and about one-third of each payment goes toward the purchase. In 3 to 7 years, clients can secure a mortgage and become homeowners.
“The homebuying market no longer meets the needs of younger generations. Only 3 out of 10 young people under the age of 35 have been able to access homeownership. Our goal is to offer solutions tailored to their reality, helping them build equity without requiring a large initial down payment," CEO and co-founder of Libeen, José Manuel Cartes, commented in a press release.
- To date, Libeen has helped 100% of its clients secure mortgages through the Smarthousing program. On average, clients save over €50,000 and complete the process in just three years, offering a quick and efficient path to owning a home.
Details of the deal
- The investment was led by Andbank, through MyInvestor and Actyus (Andbank Group companies), with the support of its main partner, Cusp Capital, an Essen-based venture capital firm that invests in early-stage European companies poised to innovate in software and technology.
- Additionally, notable figures such as Íñigo Juantegui, co-founder of La Nevera Roja, Enrique Linares, co-founder of Letgo, Spain’s first unicorn, and Juan Velayos, founder of JV20, have also joined as investors.
- Libeen will use the raised capital to expand nationally, integrate AI-driven technology, acquire strategic assets, and help over 130 families secure housing. The funds will also support growth in new cities, talent acquisition, and investment in data-driven technology.
“Our model has demonstrated a 100% success rate in turning renting into a stepping stone to homeownership, and with this funding, we aim to multiply our impact,” claims Sofía Iturbe, COO and co-founder of Libeen.
