PredictAP, a company specializing in real estate financial technology, has successfully closed its Series A financing round, amassing $8m.
According to FinSME, this noteworthy investment was spearheaded by RET Ventures, accompanied by valuable contributions from Wise Ventures.
In the dynamic realm of FinTech, PredictAP stands out with its innovative solution tailored for real estate accounts payable (AP). The firm, established in 2020 by the forward-thinking duo David Stifter and Russell Franks, offers a groundbreaking machine-learning-powered invoice ingestion and coding system.
This system not only automates but also enhances the precision and consistency of invoice coding within real estate accounting departments. Its compatibility with Yardi, a prominent property management software, further amplifies its utility and reach.
The influx of $8m in funding is earmarked for an ambitious expansion, with PredictAP setting its sights on broadening its footprint across both the U.S. and international markets. The company’s trajectory since its inception is a testament to its impact and potential. PredictAP has experienced rapid growth, now supporting over 50 distinguished real estate companies.
These companies collectively process an impressive volume of over 2 million invoices annually. The platform’s influence and effectiveness are underscored by its adoption by industry heavyweights such as Bridge Investment Group, Garden Homes, The RMR Group, Starwood, and CA Ventures.
Keep up with all the latest FinTech news here.
Copyright © 2024 FinTech Global
