Already one of the best-funded property technology startups in Canada, Properly has raised another $36 million in venture capital financing.
Following a $44 million Series B round last year, the rapidly growing Toronto prop-tech startup says this latest round includes participation from Parker89, Bain Capital Ventures, Prudence, FJ Labs, Golden Ventures, Intact Ventures, Max Ventures, AlleyCorp, Interplay, Industry Ventures, and others.
“We’re thrilled to have this additional funding to be able to support more customers across more points in their real estate journey,” said Anshul Ruparell, CEO of Properly.
Properly’s total funding now sits at $192 million, making it the fastest growing real estate startup in the country and best-funded behind RenoRun. Since launching in Toronto in the summer of 2020, Properly has supported over $1 billion in transactions.
This injection of new capital enables Properly “to continue on its mission to create a seamless and stress-free real estate experience for all Canadians,” according to a statement from the company, which says it will further its investment in technology and “expand its offering of products and services that solve critical problems for customers which have previously been ignored by the traditional real estate industry.”
“We’re working to create a world where customers can buy and sell a home with confidence and certainty, eliminating the unnecessary friction and stress of the traditional way,” Ruparell said. “Our approach of grounding our products, services and technology in what will improve Canadians’ real estate experience has led to exciting growth and changes to the industry that are long overdue.”
In the last year, Properly launched an in-house mortgage offering, providing financing solutions to customers to create a more streamlined buying and selling experience. The startup also partnered with two of Canada’s most well-known real estate personalities, Drew and Jonathan Scott, who have invested in the company and serve as ambassadors.
“We’ve been impressed with what Properly has been able to accomplish since its last fundraising round as they’ve proven they understand the needs of Canadian home buyers and sellers and can build offerings that are not only resilient in uncertain markets but are extremely beneficial for the customer,” said Merritt Hummer, Partner at Bain Capital Ventures.
“We’re excited by Properly’s continued traction in modernizing the Canadian real estate experience and believe they are uniquely positioned to be a leader in the market,” added Nate Levin, Managing Director at Parker89.
Gavin Myers, Managing Partner at Prudence, says Properly’s proprietary technology “is particularly impressive as it gives people access to information they need and sets Properly up to be a true partner to customers throughout the entire process from search to sale.”