How this French startup is revolutionizing the laborious management of family assets

© OMEDOM

Managing family assets can be particularly complex and time-consuming, requiring a multitude of administrative tasks. A real headache, in short. The French startup OMEDOM, halfway between fintech and proptech, intends to dust off this field through an all-in-one platform, focused on ease of use.

The fruit of a family history

And it is precisely by drawing on her family experience that Coline Sinquin, co-founder of the young company, came up with this concept. When her grandparents died in 2019, her mother, an only daughter, had to manage their assets. ” We are not talking about a huge real estate portfolio, but about small properties in which we grew up, which have a history, which have a past “, confides the entrepreneur in an interview with Presse-citron.

Belonging to the baby boomer generation, her mother is used to using paper. However, the number of documents to manage, as well as the necessary exchanges with insurance companies, banks and notaries, quickly seem to become insurmountable. Coline Sinquin decides to help her by digitizing the processes, particularly on Google Drive.

But the task is difficult. Because it is also about preparing for the future, and subsequently bequeathing a well-managed, easily visualizable heritage. « “We have to go fishing for information so that she can know in real time what she has paid on the properties, in order to anticipate, for example, property taxes. All this while also starting to transmit the information “, explains the Albigeoise.

A concept then begins to emerge in her mind. ” A tool capable of centralizing information from different channels, which can be managed daily from the same place, but above all can be shared with children so that they too can access this information and know where their parent is in their finances “, she summarizes.

A platform for managing all aspects of wealth management

A concept is a good starting point, but being able to put it into practice is even better. Because Coline Sinquin, who comes from the restaurant and hotel industry, had no experience in the technology sector at the time. Luckily, she met Héloïse Medina, a project manager at Airbus. The two women joined forces and developed the OMEDOM solution.

The platform is designed to be a complete and intuitive SaaS solution for owners. It brings together all aspects of wealth management: real estate, finances, family businesses, and more. All for a subscription of 10 euros per month. A version dedicated to several family members is also available.

«Our technological innovation consists of analyzing bank statements and extracting only the information relevant to the assets, leaving aside private elements. This allows us to provide the user with a detailed dashboard: today, yesterday and in the future, with payments made, assets held and a cash flow forecast over a rolling 12 months. This helps in particular to anticipate deadlines such as property and housing taxes “, explains Coline Sinquin.

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© OMEDOM

A tool in the era of time

The tool also offers real-time property estimates based on their geographic location. A projected DPE also makes it possible to assess the potential impact of #8217;a renovation on energy performance, as well as the effect on the sale price of the property.

OMEDOM is primarily aimed at Generation X. The latter “ has its own assets with, in many cases, blended families, and also lives in various countries “. Another considerable factor: baby boomers hold 72% of real estate assets and 90% of financial assets in France.

In a few years, a colossal transfer of wealth will take place and, without a shadow of a doubt, “ there will be holes in the racket, accounts, insurance forgotten “, warns the entrepreneur. According to her, a solution like OMEDOM will allow us to “continue to transmit history by eliminating these gaps.” .

OMEDOM is also aimed at professionals

While OMEDOM is mainly aimed at individuals, already counting 5,700 users and 1 billion euros of assets under management, the startup has also diversified by launching an offer for professionals.

With OMEDOM Pro, real estate and finance specialists have access to real-time data updates, in addition to a wealth summary table. The tool also offers “ more in-depth analyses for wealth managers, a regulatory aspect, as well as instant visualization of property and account data sheets “, explains Coline Sinquin. They can also offer OMEDOM licenses to their clients.

© OMEDOM

Fundraising in sight

While the startup is only just beginning to write its story, it is already aiming high. Starting with the inclusion of movable heritage, that is to say “car parks, works of art, watches, everything related to equipment and digital heritage to also include “. It also wants to reach a wider audience, including French expatriates, other French-speaking countries and, eventually, other international markets.

This will of course involve strengthening its teams and creating a commercial unit. Steps that will be made possible thanks to a pre-seed fundraising currently being finalized, to the tune of 1.4 million euros. Enough to stimulate the growth of this young shoot led by three women, a rare enough fact to be noted in the sector: “23% of women executives in the real estate sector, 8% of women CEOs in tech, 2% of women in fundraising “, she lists.

The company is also keeping an eye on the booming field of generative artificial intelligence (AI). The goal is to internalize its own models with one watchword above all: the ethical processing of data.

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