Argentina-based Properati has bagged an undisclosed funding round from Big Data Scoring, which is a global credit scoring platform.
The company has accumulated $5m in funding from various investors, according to the company. In 2016, Properati closed a $2m investment from Neveq II, NXTP Labs, and Telor International Limited. Prior to that, the company netted another $2m investment in 2014, from Neveq II and NXTP Labs.
Founded in 2012, Properati is a real estate portal that helps connect real estate buyers and sellers across Latin America. The company, which has offices in Brazil, Chile, and Mexico, has 10 thousand real estate agents using its solution.
This equity injection will be used to support the launch of its new Credirati solution in Argentina, which enables consumers to compare and acquire a mortgage loan online.
Properati CEO Gabriel Gruber said, “Argentina is experiencing a boom in mortgage loans, and Credirati is our cutting-edge technology solution, needed by both users and financial institutions. In addition, throughout 2018, activity is expected to recover in Brazil and to consolidate in Mexico,” explained Gruber.
Big Data Scoring CEO Erki Kert said, “This collaboration will give Properati access to market-leading Big Data analytics while simultaneously strengthening our company’s presence in the region, which translates into a major contribution for the development of both organizations.”
Earlier in the week, real estate project management solution Honest Buildings closed an additional equity financing to its Series B, which has raised a total of $21m.
Last year, the Latin America FinTech sector was dominated by Brazil, with the country receiving around 89 per cent of the total capital deployed. Argentina, which received $19m, was the second biggest country in LatAm.
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