$8M seed round to fund international expansion

$8M seed round to fund international expansion

PropHero, winner of “Proptech Startup of the Year” at the 2022 Proptech Awards, has closed an $8 million seed round to continue growth in Australia and Spain and fund international expansion into two new countries. 

PropHero is transforming the way Australian and European property investors find, buy and manage their investment properties.  

By combining data-driven and AI-led insights with personalised digital experiences supported by human expertise, PropHero is disrupting the traditional buyer’s agent market and fulfilling its mission to make property investing simple, transparent, time-efficient and more profitable. 

“Our ambition is to revolutionise the property investment industry globally by using digital technology to replace traditional buyer’s agents,” Co-Founder and Co-CEO Pablo Gil Brusola said. 

“Soon, you will be able to access all the services you need as a property investor directly from our apps, such as property discovery, mortgage financing, insurance, property management and tax information.” 

PropHero has grown rapidly since it was incorporated in June 2021. 

Pushing hard to build out the technology and the team, as well as secure clients and capital, PropHero now has 40 employees in Australia, Spain, Argentina, India and Indonesia.  

It plans to double this headcount to 80 or more before its second birthday in June 2023.  

“Importantly, all our investors are achieving positive cash flow and price growth, even as interest rates go up and the broader property market softens,” Co-Founder and Co-CEO Mickael Roger said. 

“In fact, PropHero’s clients are outperforming the market and this shows we can use data to beat the downturn.” 

The fresh capital will be used to continue to build an integrated online property investment service; improve the company’s data models and digital customer experiences; grow partner referral channels in mortgage broking, accounting and financial advisory; hire for key roles and, to expand the geographic footprint into new international locations.  

At the 2022 Proptech Awards hosted by the Proptech Association Australia, PropHero was awarded “Proptech Startup of the Year” and “Most Innovative Startup – Consumer Proptech.”