Real estate tech firm Plentific raises £ 73m to drive US expansion


Rope technology company Plentific has raised $ 100 million (£ 73 million) from international Investor To supply “rapid” fuel Expansion In We..

With the growth division of Canadian investment giant Brookfield Abu Dhabi Sovereign wealth fund, Mamoura cash NS LondonBased property management software provider.

Plentific was launched in 2013 and landlord In England When Germany We are looking for major repairs and maintenance without hassle.

Helping landlords find, scrutinize, and communicate with more than 16,000 contractor networks, the company has raised more than £ 100m and has grown 17-fold over the past three years. Clients include Peabody and Knight Frank.

Last year, Plentific doubled its workforce to 200 and opened its first US office.

Co-founder Cem Savas said the tech company aims to “become a de facto digital partner for landlords and service providers around the world.”

He states: “Our next step is to expand rapidly in the United States and start operations in new regions. We are only part of the $ 2.5 trillion potential market opportunity.

“”[In the US] There are 52 million homes managed by the landlord and many more commercial facilities such as shared offices, bars, restaurants and shops. Very excited about the growth potential of the entire United States, some of the money will be used to accelerate it and solidify its position in the market. “

Plentific said the funding could also accelerate engineering and product development.

Brookfield is one of the largest real estate owners in the world. “We are excited to partner with Plentific as we are trying to fully digitize the repair and maintenance process,” said managing partner Josh Raffaelli.

Much of the maintenance in the global real estate sector is still unplanned and managed with outdated systems. Whether it’s an Airbnb host or a real estate giant, companies have emerged in recent years that offer to simplify the landlord’s process, creating the “proptech” sector.

By digitizing the process, Plentific enables owners to assess portfolio repair, maintenance and compliance needs from a single screen and integrate software solutions.

According to Savas, the company’s demand surged as a pandemic occurred and the landlord had to manage everything remotely.

He states: “Covid has accelerated the decision-making process of many landlords. In the last few years, the transition to more digital solutions has been gradual, but pandemics allow many to manage the process remotely. We need to implement new technologies that help us more quickly. “

Real estate tech firm Plentific raises £ 73m to drive US expansion

Source link Real estate tech firm Plentific raises £ 73m to drive US expansion

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