GarantMe announced raising €4M from Axeleo Capital, NewAlpha, Fonds Ambition Amorçage.

GarantMe, a Paris, France-based real estate startup, announced the completion of a €4M ($4.7M) capital investment round.

The money was provided by a range of French investors including Axeleo Capital, NewAlpha and Bpifrance, and will be used for product development and consolidate the company's position in the private and professional real estate insurance.

GarantMe, founded in 2017 by Thomas Reynaud and Emile Karam, developed a financial service for the real estate industry as it targets international students looking to rent without hassle, while offering the lessors a rental deposit and a simplification of legal procedures in the event of unpaid debts, allowing them to rent their property with complete peace of mind to tenants who meet the criteria of solvency.