Properly, a Canadian PropTech platform, has closed its Series A round on CAD $22m ($16m), made up of both equity and debt.
Prudence Holdings and FJ Labs led the equity investment, with participation also coming from Golden Ventures, AlleyCorp founder Kevin Ryan, and others. The equity investment totalled CAD $12m ($9m) of the Series A.
The remaining CAD $10m ($7.5m) was a debt facility, but it is unclear who supplied the funds.
With the fresh line of capital, the company is accelerating its expansion in Canada, with plans to support more cities in the country.
Founded in 2018, Properly leverages machine learning technology to help homeowners discover how much their home would sell for on the open market.
Users have the ability to sell directly to Properly and close the sale within five days. A price match guarantee is in place which means if a home sells for more than Properly offer, the majority of the upside is given back to the seller.
The company recently launched its services to the city of Calgary and claims it is buying or selling a home nearly every day.
Prudence general partner Gavin Myers said, ?There been a lack of innovation around real estate in Canada, but that changing with Properly.
?Investing in Properly was a clear choice because theyre providing the services homeowners want – convenience and transparency – while eliminating the pain points of selling a home. With an outstanding team, attractive business model and strong traction we see direct parallels to the early days of Compass and are confident in Properly potential to transform the real estate market in Canada.p>
Earlier in the week, Singapore-based online real estate marketplace Flat Monthly closed its Seed round on $320,000.
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