PropHero, a Sydney and Madrid-based proptech company that provides a digital property investment platform, raised an additional AU$8 million in seed funding.
The round was co-led by Fifth Wall and Samaipata, with participation from venture capital firms Jelix Ventures and AfterWork Ventures.
The investment proceeds will be used to continue to build an integrated online property investment service, to improve the company’s data models and digital customer experiences, to grow partner referral channels in mortgage broking, accounting, and financial advisory, to hire for key roles, and to expand the geographic footprint into new international locations.
“We are helping our clients to build property wealth over time,” said Pablo Gil Brusola, PropHero’s Co-Founder & Co-CEO. “After a property strategy consultation with a property coach, our platform shows you personalized 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.”
“Seeing the reality of our product-market fit is amazing!” said PropHero’s Co-Founder & Co-CEO Mickael Roger. “We have helped more than 200 clients find their dream property. Around 60% of our clients are returning to buy their second and third properties with us and 80% refer their friends and family.”
Harnessing the power of big data and AI, PropHero’s proprietary technology identifies investment properties with the potential for high return and low risk. Clients can access the platform’s bespoke recommendations 24/7 through a smartphone app and, additionally, have access to a personal property coach and a network of property professionals.
Company: PropHero Pty Ltd.
Round: Seed Round
Funding Month: October 2022
Lead Investors: Fifth Wall and Samaipata
Additional Investors: Jelix Ventures and AfterWork Ventures
Company Website: https://prophero.com.au/
Software Category: AI-enabled Digital Property Investment platform
About the Company: Founded in 2021, PropHero is a data-driven and AI-enabled digital property investment platform that helps you find, buy, and manage the best investment properties. PropHero provides investors with a full end-to-end solution that includes investment strategy consultation, data-driven analysis, and support from a personal property coach. The software analyzes millions of data points from real estate in every suburb, with advanced AI algorithms helping identify clients' best properties to maximize their return on investment. The company also works closely with mortgage broker partners, who refer clients to the platform and benefit from shorter turnaround times between pre-approval and drawdown for loans. PropHero now has 40 employees in Australia, Spain, Argentina, India, and Indonesia.