Mexican proptech startup Flat.mx has raised $20 million in Series A funding. The investors included Anthemis Group and 500 Startups.
Flat.mx is a Mexican startup in the PropTech sector that buys, remodels and sells apartments in Mexico, promising to close the transaction in a maximum of 10 days through its iBuyer (instant buyer) model.
Each apartment is supervised and evaluated through more than 200 review points to ensure that the property is in the best conditions to be inhabited. Subsequently, the professionals of the PropTech are in charge of remodeling them, giving them modernity with the latest trends in design, so that when they are sold, they offer fully renovated apartments, adapting to current housing needs.
Accelerated growth in the face of the crisis
After two years of operation, Flat.mx has had an accelerated growth, increasing its number of unique users, its portfolio of properties and transactions. In addition to expanding its presence, since in its beginnings the company operated in some neighborhoods of the CDMX, and today they cover the entire capital of the country, the State of Mexico and has begun to operate in Guadalajara.
“The real estate market in Mexico is broken. One of the biggest problems is that it takes sellers anywhere from 6 months to 2 years to sell. So we launched the most radical solution we could find to this problem: an instant offer. This product allows homeowners to sell in days instead of months, a fast and convenient experience they can’t find anywhere else”, explains Bernardo Cordero, co-founder of Flat.mx.
The key is in its iBuyer model, which came to revolutionize the real estate market in Mexico. To achieve this, they solved many of the existing problems, from information generation and analysis, to a third-party market, a trusted contractor market, broker technology, and a financial products service.
What will they do with the capital obtained in Series A?
Previously, the company had raised $10 million in equity and $25 million in debt, and for Series A they managed to raise $ 20 million. This round is supported by Anthemis Group and 500 Startups, along with continued investments from ALLVP and Expa.
“With the capital from the Series A we’ll continue to invest in this vision of developing the one-stop shop where homeowners and buyers will be able to get all the services they need in one place. We believe that each one of our products makes the others stronger, and creating this ecosystem of products will continue to give us an important advantage in the market. We will also invest in data, financial products, and other key elements of our vision”, says Víctor Noguera, co-founder of Flat.mx.
Flat.mx is a real estate startup that takes the stress and uncertainty out of buying and selling a home.
Flat.mx is not an intermediary, but directly acquires the properties by making an immediate offer, at competitive prices and will close the deal in less than 10 days, ensuring that the property has everything in order, relying on experts, to later remodel and resell the property within their platform, offering unique guarantees in the market and, best of all, the user can do it in the fastest and easiest way within the reach of a few clicks.