Earlier this year, Fintech.ca reported on Calgary-based startup Propra undergoing a quiet transformation that we noted reflects a broader trend in Canadian tech: the convergence of proptech and fintech.
Originally launched in 2021 as a platform for managing property operations (i.e. inspections, maintenance, tenant communications), Propra is now firmly positioning itself as a financial technology company.
“We realized that unless you can follow the money in property management, no one really cares,” cofounder and CEO Al-Karim Khimji remarked in April. “Replacing the clipboard and paper filing systems was good, but not painkiller enough.”
That realization pushed the company beyond basic property operations and into financial infrastructure.
“People loved our accounting tools but were still struggling to find time or talent to get their accounting done,” Khimji told Calgary.tech. “That’s when we saw the opportunity to automate more deeply.”
Propra now offers a vertically integrated accounting platform with services ranging from self-serve tools to full-fledged accountant replacement.
Behind the scenes, Propra’s AI reads documents, extracts service addresses, dates, descriptions, and account codes, and generates clean journal entries. Even e-transfer deposit emails are parsed automatically, eliminating the need to jump between inboxes and spreadsheets.
This month, the Alberta upstart established a strategic partnership with CENTURY 21 Canada, one of the world’s largest residential real estate sales organizations.
Propra was selected by CENTURY 21 for its intuitive technology and understanding of the operational and regulatory requirements unique to Canadian property managers.
From day-to-day efficiency to long-term scalability, Propra will help CENTURY 21 streamline their property management operations, strengthen tenant relationships, and drive business growth, according to Todd Shyiak, Executive Vice President of CENTURY 21 Canada.
“Propra stood out as a forward-thinking partner with a proven ability to meet the complex needs of property managers in Canada,” said Shyiak. “Their platform aligns with our vision to support our offices with tools that are powerful and easy to adopt and scale.”
As part of the agreement, which is slated to rollout over the next few months, CENTURY 21 Canada offices will receive exclusive pricing, according to Khimji.
“CENTURY 21 Canada has a longstanding reputation for innovation and leadership,” the CEO stated. “We’re excited to help power the next chapter of their property management services.”
The first CENTURY 21 office in Canada opened its doors in 1976. Today, the entity counts nearly 400 offices.
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