As a leader in providing technology-based real estate solutions for Canadians, Properly becomes best funded and fastest growing real estate startup in Canada
TORONTO, August 8, 2022 /CNW/ – Today, Properly is announcing a $36 million CAD round of financing, reinforcing its leadership role in the transformation of the Canadian real estate industry. This fundraiser ended in late July and was led by existing partners including Parker89, Bain Capital Ventures, Prudence, FJ Labs, Golden Ventures, Intact Ventures, Max Ventures, AlleyCorp, Interplay, Industry Ventures and others. , and brings Properly’s full funding to $192 million CAD, making it the best funded and fastest growing real estate startup in the country.
Properly is a technology-driven Canadian real estate brokerage firm that offers a new approach to real estate. With a suite of products and services that provide more control, transparency and peace of mind, Properly supports customers through multiple stages of the buying and selling process, from initial online research, to obtaining financing, through the transaction on a house. Since its launch in Toronto in the summer of 2020, Properly supported more than $1 billion CAD in transactions.
“We are working to create a world where customers can buy and sell a home with confidence and certainty, eliminating unnecessary friction and stress in the traditional way,” said Anshul Ruparell, CEO and co-founder of Properly. “Our approach of anchoring our products, services and technology in what will enhance the real estate experience for Canadians has led to exciting growth and long overdue changes in the industry. We are excited to have this additional funding so we can support more clients at more stages of their real estate journey.”
This injection of new capital allows Properly to continue its mission to create a seamless and stress-free real estate experience for all Canadians. Properly will continue to invest in technology and expand its offering of products and services that solve critical customer issues previously overlooked by the traditional real estate industry.
“We have been impressed with what Properly has been able to accomplish since their last fundraising round, as they have proven they understand the needs of Canadian home buyers and sellers and can create not only resilient offerings on uncertain markets, but hugely beneficial for the customer,” said Merritt Hummer, partner at Bain Capital Ventures. “We were eager to continue our support and expand our investment in the business as they continue to be in a unique position to lead the transformation of the real estate category into Canada.”
This funding follows a $100 million CAD credit facility financing, which enables Properly to meet its commitment to purchase a client’s home if it does not sell on the market, and a $44 million Series B CAD financing. In the past year alone, Properly has grown exponentially from being a GTA-only business to the second largest real estate market in the nation: Vancouver. With this expansion, Properly is positioning itself to become the real estate partner of choice for over 50% of the entire Canadian real estate market.
Over the past year, Properly has also launched its in-house mortgage offering, providing financing solutions to customers to create a more streamlined buying and selling experience. In addition to these milestones, Properly has partnered with two of from Canada the most well-known real estate experts and personalities, Drew and Jonathan Scottwho have invested in the company and serve as ambassadors as Properly develops its brand within Canada.
“We are excited about Properly’s continued drive to modernize the Canadian real estate experience and believe they are uniquely positioned to be a market leader,” said Nate Levin, CEO of Parker89. “Over the past year, their successful expansion into Vancouver as well as the launch of their in-house mortgage offering has strengthened our confidence in their team. Properly’s track record of innovation and ability to adapt technology best practices American proptechs provide an opportunity for scalable solutions and long-term growth in the important Canadian real estate market.”
“Properly’s ability to serve customers at any stage of their home buying or selling journey is what makes them a benchmark in the industry,” said Gavin Myers, managing partner at Prudence. “The proprietary technology that powers their home finder and instant home valuation tools is particularly impressive because it gives people access to the information they need and makes Properly a true partner to customers throughout the process. of the process, from research to sale.”
Properly is headquartered in Toronto with operations in Vancouver and is on a mission to make real estate more consumer-centric.
Properly is a new kind of real estate company transforming the real estate experience for Canadians with innovative tools, services and technology that take the stress out of real estate. With a mission to make real estate customer-centric, Properly strives to create a future where the real estate experience is seamless and involves significantly less friction. With from Canada A real estate-first buy-move-sell model, Properly makes it easier for Canadians to access the home of their dreams and sell with confidence.
For further information: Rosie McGregor, Communications Manager, Properly, [email protected]416-574-3211