Mutua Madrileña has acquired a 10% stake in Muppy through its corporate venture capital arm, Mutua Ventures, becoming a shareholder in the residential investment and asset management platform founded in 2021.
Since its launch, Muppy has developed a business model focused on residential investment advisory, asset acquisition and property management. The company currently manages more than €150 million in assets and operates over 750 accommodation units — including studios, apartments, entire homes and individual rooms— across Madrid, Barcelona, Valencia, Alicante and Málaga. Rather than investing directly in real estate, Muppy provides investment advisory and asset management services, supporting both private and high-net-worth investors throughout the acquisition, management and optimization of residential assets.
Following Mutua Madrileña's investment, Muppy aims to increase its assets under management to €400 million within the next two years, more than doubling its current portfolio.
The company's growth strategy is built around three key pillars: expanding its residential asset base by acquiring both individual housing units and entire residential buildings, broadening its geographic footprint, and launching a dedicated Wealth division targeting high-net-worth individuals interested in investing in rental residential buildings. In the short term, Muppy plans to strengthen its presence in the metropolitan areas where it already operates before expanding into additional Spanish cities from next year onwards.
Originally established as a coliving operator, Muppy has evolved into a fully integrated residential investment platform covering the entire asset lifecycle—from sourcing investment opportunities and acquiring properties to rental management and eventual asset disposal.
In addition to its founders and Mutua Madrileña, the company's shareholder base includes several prominent entrepreneurs and executives who participated in its €2.3 million funding round completed in 2024.
For Mutua Madrileña, the transaction forms part of the investment strategy of Mutua Ventures, whose portfolio also includes stakes in V2C, a manufacturer of electric vehicle charging solutions; Recomotor, a company specializing in the recovery and reuse of automotive parts; and Legit.Health, a health technology company applying artificial intelligence to the diagnosis of dermatological diseases.
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