Australian PropTech platform PropHero has closed its oversubscribed seed round on AUD 8m ($5m).
The capital was raised to support its growth in Australia and internationally. Capital will also enable PropHero to improve its data models and digital customer experiences and hire staff for key roles. It also plans to grow partner referral channels in mortgage broking, accounting and financial advisory.
Fifth Wall, a venture capital firm focused on the real estate sector, and Samaipata, an early-stage pan-European fund, co-led the round.
Existing PropHero investors Jelix Ventures and AfterWork Ventures also joined the round.
PropHero offers a digital property investment platform that offers a full end-to-end solution, including strategy consultation and support from a personal property coach. Its aim is to transform how the Australian and European property investors find, buy and manage their investment properties.
Its platform combines data-driven and AI-led insights with personalised digital user experiences supported by human expertise.
Speaking on the investment, PropHero co-founder and co-CEO Pablo Gil Brusola said, “We are helping our clients to build property wealth over time.
“After a property strategy consultation with a property coach, our platform shows you personalised recommendations. Then we make it super easy for you to buy and manage that property because we have a network of trusted real estate professionals who help with the inspection, offer, financing and ownership process.”
Fifth Wall partner and European lead Miguel Nigorra Esteban added, “While real estate has always been one of the most sought-after asset classes, it can be intimidating and inaccessible, and PropHero’s Buy-To-Let (BTL) model helps change that. Enhanced by its use of data-backed algorithms and an already impressive track record, we believe PropHero is poised to grow into a global, approachable solution in the real estate investment market.”
Investment into Australia’s FinTech sector reached a new height in 2021. A total of $3.8bn was invested through 205 deals, according to data by FinTech Global.
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