The Proptech Sonneil Will Triple its Sales in 2019

4 February 2019 – Eje Prime

Sonneil is broadening its horizons. The Spanish proptech, founded in 2014 by the former director of the international team at Solvia, Alfredo Millá Ferrero, expects to close this year with turnover of €1.5 million, triple the figure recorded last year. The startup now has a portfolio comprising more than 3,700 homes, 1,000 of which it is marketing exclusively. Over the medium term, the company does not rule out entering new markets, although it is not something that it is considering for this year.

The company, headquartered in Alicante, specialises in the sale of new build second homes to foreigners on the Spanish coast. The company, which operates online only, relies on digital marketing to “minimise intermediaries and reduce costs”, explained Millá to Eje Prime.

“Selling to foreigners is a very opaque sector, and with lots of intermediaries, there is a very large accumulation of costs”, said the executive. “There has been a transformation in all sectors, except for the real estate sector, where we are still working with the same model”, he said.

Alongside Millá, the drivers behind the project were Albert Ribera, one of the founders of the portal Trovit; Juan Busquets, Partner at Busquets Abogados, and Juan Pedro Moreno, CEO of Accenture.

Since it was founded, Sonneil has carried out three rounds of financing, subscribed to in their majority by shareholders, but which have also given capital access to investors such as Domingo Caamaño and Vicente Rodero, former directors of BBVA, and Sevenzonic Ventures, the investment group backed by Javier Rodríguez Zapatero, former CEO of Google, and Manuel Gálatas.

The company’s portfolio, which is mostly owned by property developers and family offices, is concentrated along the Mediterranean coast, Mallorca and Ibiza.

Sonneil’s main clients are Belgian Flemish, Russian, British and Dutch, although Millá Ferrero commented that there has been a notable decrease in the number of British clients in recent years, especially since the Brexit referendum (…).

Original story: Eje Prime (by Milana Mishchenko)

Translation: Carmel Drake

Angel Cano’s Firm to Market Flats in Benidorm’s Giant In Tempo

4 October 2018

The proptech firm Sonneil will market 270 flats, seeking clients for the tallest residential building in Spain.

After years of paralysis, the tallest residential building in Spain, at 192 meters, will begin work on its last phase of construction, while starting sales of its 270 flats. The SVP fund (which owns the property) has commissioned the real estate company Sonneil, owned by Ángel Cano, the former CEO of BBVA, to sell the apartments on an exclusive basis. Sales are expected to begin shortly, the proptech firm announced on its website.

Sonneil is a proptech, which apply information technology to real estate transactions, based in Alicante. Its founder is Alfredo Millá, an ex-executive at Solvia, Sabadell’s servicer. Juan Pedro Moreno, president of Accenture; Albert Ribera, founder of Trovit; and the lawyer Juan Busquets are partners.

Last year, Sevenzonic, run by several former executives at BBVA, including Ángel Cano, and Javier Rodríguez Zapatero, former general manager of Google in Spain and president of the ISDI business school, also invested in the company. Sevenzonic was founded to invest in new technology companies.

The real estate agency Sonneil has not revealed any potential prices or the date that sales will begin. This firm is highly focused on international clients looking for coastal housing in Spain. More than 60% of the buyers it attracts are foreigners, mainly Belgians, Nordics, Dutch and Germans.

As a proptech company, Sonneil uses hyper-segmented online marketing tools segmented by client type, through social networks, Google Ads and web positioning. The real estate company seeks to reduce the number of intermediaries that act in a sale, especially in the case of international clients, becoming a single agent.

Construction on the building began in 2007. Its developer, Olga Urbana, was declared insolvent in 2014. Sareb (the bad bank of the Spanish government,) became its main creditor, selling the debt to SVP Global last year. The American fund took over the project and announced its intent to finish construction on the skyscraper, which has been paralysed for years.

Original Story: Cinco Días – Alfonso Simón Ruiz

Translation: Richard Turner