There are moments that mark a before and after in a company's history. For Muppy, June 2026 is one of them.

Mutua Madrileña, one of Spain's most solid and historic insurers, has decided to take a 10% stake in Muppy through Mutua Ventures, its startup investment vehicle. This is a clear signal that the model we've built since 2021 makes sense, has a future, and deserves the backing of an institution that has spent decades managing the wealth of millions of people in this country.

From operator to end-to-end management platform for investors

When we founded Muppy five years ago, the goal was clear: to professionalize residential real estate investment in a market that was still highly fragmented. A market where individual investors had to choose between managing everything themselves—with the cost in time and expertise that entails—or missing out on some of the best real estate investments available in Spain.

Our answer was to build an end-to-end rental management model for investors covering the entire cycle: from identifying the opportunity to managing the rental. An end-to-end approach that removes the sector's traditional barriers and puts professional real estate investment within reach of those who have the capital but not the time or the team to execute it.

Today, with more than €150 million in assets under management, more than 750 operating units, and a presence in the main metropolitan areas of Madrid, Barcelona, Valencia, Alicante, and Málaga, Mutua Madrileña's entry is the endorsement that lets us take the next step.

Active vs. passive real estate investment: why the delegated model wins

One of the most common questions among those considering entering the sector is which model to choose. Active real estate investment—where the owner manages the asset directly—offers full control but demands time, expertise, and the ability to respond to the unexpected. Passive or delegated investment, like the model Muppy offers, hands the entire operation to a specialized team while the investor retains direct ownership of the asset and receives returns on a regular basis.

In a context like that of 2026, with rental prices at all-time highs in Spain's major cities and residential demand that continues to outstrip supply, this delegated, end-to-end rental management has become the best way to invest for profiles seeking exposure to real estate without taking on the operational burden it involves.

Mutua Madrileña's entry into Muppy is, among other things, institutional validation that this model works and has room to grow.

What changes from here

Mutua's entry means strategic backing, institutionalization, and the starting point of a new stage of growth for Muppy.

Over the next two years, the goal is to reach €400 million in assets under management—more than doubling the current volume. To achieve this, the company will work on three major fronts: acquiring new residential assets, both individual homes and entire buildings; geographic expansion into new Spanish cities; and the launch of the Wealth division, a proposition designed specifically for high-net-worth investors looking to invest in residential real estate at scale.

This last point is especially relevant. Until now, access to investment in entire buildings has been reserved for institutional investors or family offices with their own management structures. Muppy's Wealth division aims precisely to democratize that access, offering high-net-worth profiles a professional, managed, and transparent model for investing in this type of asset—with the same logic of investing in property without the hassle that we already apply for the individual investor.

Why Mutua Ventures bet on Muppy

Mutua Ventures does not invest in just any project. Its portfolio reflects a clear view of which sectors and business models have room to grow in the Spain of the coming years. Alongside Muppy, the Mutua Group's innovation vehicle holds stakes in companies such as V2C, Recomotor, and Legit.Health—very different profiles, but with a common denominator: propositions that solve real problems in markets with high transformation potential.

The market for investment and end-to-end rental management for investors in Spain fits that description perfectly. It's a sector with volume, with growing demand, and with a professionalization that is still very much in its early stages. That Mutua has decided to bet on Muppy as its vehicle for being present in that market says a great deal about the strength of the model and the prospects of the sector.

A new stage that is also yours

For those already investing with Muppy, this news has a direct reading: the model you chose when you placed your trust in us has just received the validation of one of the most rigorous financial institutions in the country. The platform where your assets sit is going to grow, will have more resources, and will be able to offer more and better real estate investment opportunities.

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