PropSource, a South African prop-tech startup, has secured an unknown sum of money to expand its residential product line.
Commercial real estate agency PropSource collaborates closely with listed nationals, or REITS, to fill openings in their portfolios of properties. The startup’s property database, which has over 3,500 vacancies, was constructed using technology.
The business received undisclosed equity capital earlier this year from an unidentified investor to develop a home product offering, which is now open to the general public.
“We have been developing a turn-key property management, sales and lead generation system,” said Percival van der Walt, principal and director of PropSource. “We aim to bridge the gap between property and technology once and for all for all landlords, tenants, and of course, most importantly to us, our agents.”
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The startup’s technology first served as a lead generator for businesses but swiftly advanced to the point where it can now give business agents precise probability matches of properties that meet their clients’ criteria.
“This is completely automated and brokers do not even need to go search for a property themselves,” said van der Walt. “Uptake in the market is very, very positive, and we aim to have over 100 agents on our system by the end of 2022.”
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh