Proptech startup PropHero raises $16 million

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Australian proptech company PropHero has raised $1.6 million for its real estate investment platform.

The round was led by GFC Global Founders Capital and backed by AfterWork Ventures, Jelix Ventures and The Fund.

The money is for improve business data models and digital customer experience, key hires and expand national footprint in Australia and overseas.

PropHero is a “next generation” in buyer agent services, combining data and AI with human expertise to make it simpler, more transparent, faster and more profitable.

Co-founders Pablo Gil Brusola and Mickael Roger launched the startup last year, believing there was a gap in the market for “an app for that” to streamline the investing process.

“Our platform makes real estate investing accessible to a younger generation who have savings and want a simple digital experience,” said Gil Brusola.

“We also have older clients who appreciate our data-driven approach so they can diversify their property portfolios. We reduce the time needed to invest in real estate by 90% because we have a digital platform and a network of trusted professionals.

Gil Brusola said that since its inception less than a year ago, PropHero has built and launched its offering and helped clients buy properties in New South Wales and Queensland with plans to expand to national scale.

Its co-founder Mickael Roger, who has a background in data science, said PropHero’s proprietary models mine 40 million data points to filter 240 variables across 18,000 suburbs to find investment properties in listed markets. and unlisted with potential for high return and low risk. .

“When investing in real estate, it is extremely important to make an informed decision with the advantage of data. For a long time people have relied on their ‘gut feeling’ rooted in the belief that house prices are always going up,” he said.

“A lot of times they’re literally investing around the corner from their house because it’s too hard to do anything else, but it’s probably not going to maximize your return on investment,” says who has a background in data science. “Our investors are currently outperforming the market both in terms of rental yield and capital gain,” he continues.

PropHero charges a flat fee of $990 (including GST) on escrow and $9,900 on settlement.

GFC Global APAC Partner Melvin Hade said he sees huge opportunities in Australia and in the global markets he plans to expand into later this year.

“Having invested in many of the world’s leading proptech companies, we saw an outlier in terms of PropHero’s traction that made us build the belief to support Pablo and Mickael very quickly,” he said.

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