Different raises $25M in CommBank partnership

Different raises $25M in CommBank partnership
Left to right: CBA’s Angus Sullivan, x15Ventures, Toby Norton-Smith, and :Different’s Mina Radhakrishnan and Ruwin Perera

Australian property management proptech :Different has announced it has raised $25 million in a Series B round led by the Commonwealth Bank. 

The funding supports :Different to expand nationally and build its team of property managers. The raise was led by Commonwealth Bank venture-scaling entity, x15ventures, and Antler, and will also see CBA and :Different form a strategic partnership to collaborate on exclusive offers and benefits to reach homeowners across the country. 

:Different was founded by ex-Silicon Valley executives, Mina Radhakrishnan and Ruwin Perera in 2017 and has grown quickly to reimagine the property management experience through people and technology. It has doubled the team in the last year alone, and now services properties across Australia’s eastern seaboard, with thousands of owners, tenants and properties under management.

The partnership will help :Different reach CommBank’s 15 million customer base, with :Different soon being accessible across various CBA channels including the CommBank app to support property investors with guidance throughout the entire home buying journey.

:Different co-founder Mina Radhakrishnan the partnership supported the proptech’s mission to be an all-encompassing assistant to the home. 

“We started :Different because we had heard all too many horror stories of property owners and renters having a subpar experience with their property managers,” Mina said. “We knew things had to change, and with people who care, and powerful technology, we could create a better experience for our property owners, their properties and the people who live in them.”  

Co-founder Ruwin Perera said :Different intended to use the partnership to deliver value through reimagined products and services as the basis of a home platform, designed to service the needs of homes and the people who live in them.

“We are thrilled to have x15ventures and Antler backing us,” Ruwin said. “Antler’s international presence will give us the reach to take :Different to other markets around the world. Both partners have a vision to disrupt the status quo to solve real-world problems in unique ways, which is at the very core of why we started :Different, and makes them a perfect pairing for us.”

The managing director of x15ventures Toby Norton-Smith, said the investment was part of their determination to improve the digital customer experience throughout the home buying journey.”

“Working closely with exceptional founders like Mina and Ruwin and global industry heavyweights like Antler, is a privilege,” Toby said. “This exposure and immersion with the broader startup community is key to x15ventures’ strategy to build, buy and invest in digital businesses that will reshape banking as we know it.”

Teddy Himler, a parter at Antler said they were proud to support Australia’s fastest-growing property manager. 

“In :Different, we see a world-class team, building a customer-centric platform for the home in one of the most exciting emerging tech ecosystems globally and beyond,” Teddy said.