New Europe Venture Equity, a leading SEE VC fund, invests USD 1.5 M in Properati’s EU subsidiary DreamApps
NEVEQ, through its Fund II, backs LatAm virtual mobile real estate marketplace Properati with a USD 1.5 million investment in its Bulgaria-based mobile development platform DreamApps. The company, based in the Bulgarian capital city of Sofia, will become Properati’s development hub for Android and iOS mobile applications, supporting Properati’s growing customer base against the backdrop of an exponentially expanding mobile real estate market in LatAm.
Properati.com is an online and mobile platform for the real estate market in Latin America. It offers a business model with a performance–related pay method by which clients only pay for contacts with buyers they get, instead of paying for publishing or featuring advertisements, as they used to do with other websites until now.
Properati provides consumers seeking their next property with enhanced search capabilities, including price, full property profile and images, as well as neighborhood data and information. The company is active with more than half a million listings in Brazil and Argentina, has earmarked three other LatAm markets for immediate expansion and offers the most innovative mobile platform among its peers, using an operations platform in Europe/Bulgaria - DreamApps.
Currently, Properati has more than 16,000 brokers in LatAm and over 600,000 unique monthly visitors.
The financing provided hereunder by the Joint European Resources for Micro to Medium Enterprises (JEREMIE) Initiative is implemented through the Operational Programme “Development of the competitiveness of the Bulgarian economy” 2007-2013, co-financed by the European Regional Development Fund and the state budget.