Afrigather South African proptech startup Flow has introduced a $4.5million pre-Sequence A funding spherical to help its world growth ambitions. The funding is South Africa’s largest spherical for a proptech startup.
In line with a press launch, the startup, co-founded by Gil Sperling and Daniel Levy, will use the funding to assist its B2B progress technique which entails integrating its social media-driven actual property advertising and marketing platform into current worldwide property portals and CRM platforms. Sperling and Levy are serial entrepreneurs who additionally co-founded adtech and efficiency advertising and marketing firm, Popimedia, which was acquired by Publicis in 2015.
Drawback assertion and resolution
Stream states that the worldwide property trade faces a large fragmentation problem, with tens of millions of brokers and hundreds of property portals combating to achieve patrons and sellers on digital channels.
Their platform and its APIs allow portals to supply fully-automated off-site promoting social media and digital out-of-home boards at scale, to allow brokers and portals to simply goal and join with patrons and sellers utilizing confirmed best-practice instruments.
The purpose is to allow the property trade’s progress, and assist join patrons and sellers with brokers and portals on the platforms the place they spend most of their time – social media.
Breakdown of buyers
Stream’s $4.5 million pre-Sequence A spherical is led by Futuregrowth Asset Administration with $2 million, adopted by Endeavour Harvest Fund and serial entrepreneur & investor Steven Heilbron. Preliminary buyers Kalon Enterprise Companions, Vunani Fintech Fund and Buffet Investments have additionally elevated their funding within the firm.
“We share Daniel and Gil’s imaginative and prescient to convey the property trade into the twenty first century and know they’ve the experience and expertise to make it occur – and we’re happy to have the ability to be a part of a South African firm taking daring steps that may convey much-needed change to a necessary world trade,” stated Futuregrowth Asset Administration head of personal fairness & enterprise capital, Amrish Narrandes.
In South Africa, Stream has partnered with companies together with Prop Knowledge, RE/MAX, Seeff, eXp South Africa and RealNet, in addition to in Australia with AgentBox, main company teams and a significant portal going reside in March.
