Proptech News 04/05/2024
Proptech: Everything You Need to Know (With 29 Examples) - Built In
Real estate is a highly impactful sector in the American economy, with a surge in real estate jobs due to the growing population and the need for housing. Proptech, or property technology, is the intersection of the real estate industry with technology and software. It has the potential to transform the housing market globally, making it simpler and more financially rewarding. Proptech has been taking shape for several decades, with real estate institutions seeking more efficient ways to handle investment and portfolio management. The early 2000s saw the rise of real estate tech companies like Zillow, Redfin, and Trulia, establishing themselves as frontrunners in the industry.
Between 2012 and 2020, Proptech companies raised $43 billion globally, with fundraising hitting a record high in 2021 as the industry shifted towards a growing reliance on technology. A 2021 year-end survey showed that 96% of investors in Proptech believe the pandemic sped up technology adoption and that 85% reported companies in their portfolio at or above expectations for customer growth.
From clicks to bricks: Proptech startups ride the online home-buying wave - Business Standard
India's property technology (proptech) sector is experiencing significant growth, with leading firms like Square Yards, Aurum PropTech, Spyre Proptech, and Relata.io planning to increase their investment plans in the short to medium term. The Indian proptech market is expected to grow at a 9.6% rate from 2021 to 2025, reaching the $100 billion opportunity mark by 2030. These companies use technologies like artificial intelligence, Big Data analytics, machine learning, virtual reality, and blockchain to revolutionize property transactions. Square Yards plans to invest $30-40 million over the next two years, while Aurum PropTech plans to invest Rs 550 crore. Housing.com plans to expand its audience across web and mobile platforms, while Spyre Proptech Venture Fund plans to invest around Rs 400 crore in proptech startups. Relata.io plans to introduce an accelerator platform for startups and raise Rs 50 crore in two phases, with plans to expand to Dubai and Singapore
Proptech Coadjute raises £10M from major banks - tech eu
Lloyds Banking Group, Nationwide, NatWest, and Rightmove have invested £10M in London-based property technology startup Coadjute, bringing its total investment to £23M since its inception in 2018. Coadjute aims to improve interoperability in the home buying process by bringing estate agents, conveyancers, mortgage lenders, buyers, and sellers together on a single network. The company uses Corda technology to ensure end-to-end encryption for communications and transactions. The investment comes as the property sector continues to attract the most funds in embedded finance, project management software, and home improvement tech. Lloyds Banking Group's Managing Director of Intermediaries, Esther Dijkstra, praised Coadjute for transforming the house buying process by developing technology that brings everyone involved securely together, allowing homes to change hands smoothly and quickly. Nationwide's Director of Home, Henry Jordan, emphasized the need for a single, integrated journey for the benefit of consumers and industry participants.
Property management proptech secures VC funding - REB
Brisbane-based venture capital firm VentureOn Partners has invested in property management software service OurProperty, a tenant-focused app that allows renters to lodge requests, submit photos, pay rent, view their lease, and contact their property manager. The firm, established in 2017, has a team of developers based in four countries and is growing. Curtis Thomson has been appointed as CEO of the firm, and the firm plans to work in a "close partnership" with OurProperty to grow the business and develop its capabilities. VentureOn Partners, which recently acquired Story Bridge Ventures and Proptech BNE, aims to show its belief in the transformative potential of proptech and support innovations that enhance the real estate industry. With Thomson in place, VentureOn plans to establish a strong co-working relationship to take the company international, reaffirming its vision of nurturing and scaling local SaaS companies to achieve international success.