South African proptech startup Flow has introduced a $4.5million pre-Series A funding spherical to help its global expansion ambitions. The funding is South Africa’s largest spherical for a proptech startup.
According to a press launch, the startup, co-founded by Gil Sperling and Daniel Levy, will use the funding to help its B2B development technique which entails integrating its social media-driven actual property advertising platform into current worldwide property portals and CRM platforms. Sperling and Levy are serial entrepreneurs who additionally co-founded adtech and efficiency advertising firm, Popimedia, which was acquired by Publicis in 2015.
Problem assertion and answer
Flow states that the global property business faces an enormous fragmentation problem, with hundreds of thousands of brokers and hundreds of property portals preventing to achieve consumers and sellers on digital channels.
Their platform and its APIs allow portals to supply fully-automated off-site promoting social media and digital out-of-home boards at scale, to allow brokers and portals to simply goal and join with consumers and sellers utilizing confirmed best-practice instruments.
The goal is to allow the property business’s development, and assist join consumers and sellers with brokers and portals on the platforms the place they spend most of their time – social media.
Breakdown of buyers
Flow’s $4.5 million pre-Series A spherical is led by Futuregrowth Asset Management with $2 million, adopted by Endeavour Harvest Fund and serial entrepreneur & investor Steven Heilbron. Initial buyers Kalon Venture Partners, Vunani Fintech Fund and Buffet Investments have additionally elevated their funding in the corporate.
“We share Daniel and Gil’s vision to bring the property industry into the 21st century and know they have the expertise and experience to make it happen – and we’re pleased to be able to be part of a South African company taking bold steps that will bring much-needed change to an essential global industry,” stated Futuregrowth Asset Management head of personal fairness & enterprise capital, Amrish Narrandes.
In South Africa, Flow has partnered with companies together with Prop Data, RE/MAX, Seeff, eXp South Africa and RealNet, in addition to in Australia with AgentBox, main company teams and a significant portal going stay in March.
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