Spanish neobank Unibo launches to cater for property managers

Unibo, a neobank for property management, is set to launch imminently in Spain.

Unibo, a start-up bank for property management, is based in Barcelona

The start-up says it will provide a personalised digital-first platform for online banking in the real estate sector, starting with a checking account for landlords and other property managers.

Founded in May last year by Javier Sánchez-Marco and Pedro García, the Barcelona-based firm raised €500,000 in a seed round in November.

The round was led by the Draper B1 investment fund, part of the California-based Draper Venture Network.

The round also saw participation from several companies in the real estate sector including Cafur, Serra Real Estate, Organ, and the Lleida Novadmin Property Management, alongside other private investors.

Speaking to Spanish magazine El Referente, CEO and co-founder Pedro García says property managers and real estate agents are an “unloved” customer segment within traditional banks.

“Despite representing a high-volume general business, they continue to be offered the same products and services as 15 years ago,” García told El Referente.

Unibo operates under the electronic money entity licence. The clients’ funds are held in Banco Inversis.