PropTech M&A Report 2026: Market Overview, Valuations and Consolidation
The global PropTech market is expected to grow from ~$45bn in 2025 to ~$81bn by 2030, driven by AI, building modernization and data-driven decision-making. Yet Europe’s growth-capital gap is widening. Germany counts a record 1,568 active PropTechs, while VC funding fell 42% in H1 2026 and Series B rounds have become the exception. Our PropTech M&A report analyses what this means for founders, investors and strategic buyers.

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European PropTech M&A has slowed in recent quarters, while strategic buyers account for around 80% of deal count and cross-border activity remains high. Large transactions such as Nemetschek’s acquisition of HCSS (~€2.0bn) show continued appetite for scaled software platforms.
Platforms such as Orisha/MRI Software, Vitec, NTI Group and Main Capital-backed Zig are consolidating the European real estate software market. In property management, buy-and-build platforms like Odevo and Buena are driving consolidation of a highly fragmented market.
Valuations differ widely by business model, from 0.5x to 7.8x EV/Revenue for listed peers (2026E). Precedent transactions imply median multiples of 7.1x EV/Revenue and 20.0x EV/EBITDA, and multiples are converging toward through-the-cycle levels.
The report closes with the KPIs, diligence topics and deal structures that determine the outcome of an exit or growth financing. This includes Hybrid Recapitalisation as an alternative to a pure primary raise or secondary sale.
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