Mexicobased Flat.Mx 20m Series

Flat.mx, which wants to create a real estate “super app” for Latin America, has closed a $20 million Series A funding round.

Anthemis and 500 Startups co-led the investment, which included participation from ALLVP and Expa. Previously, Flat.mx raised a total of $10 million in equity and $25 million in debt. Other backers include Opendoor CEO and co-founder Eric Wu, Flyhomes co-founder and CEO Tushar Garg, and Divvy Homes co-founder Brian Ma.

Founded in July 2019, Mexico City-based Flat.mx started out with a similar model to Opendoor, buying properties, renovating them and then reselling them. In September, the proptech startup hosted one of Mexico’s largest pre-seed rounds to push the Opendoor real estate market model through the Rio Grande.

“The real estate market in Mexico is broken,” said co-founder Bernardo Cordero. “One of the biggest problems is that it takes between six months and two years to sell. So we launched the most radical solution we could find to this problem: an instant offer. This product allows owners to sell in days instead of months, a fast and convenient experience they can’t find anywhere else.

Building an instant buyer (ibuyer) in Mexico – and Latin America in general – is a complex undertaking. Unlike the United States, Mexico does not have a Multiple Listing Service (MLS). As such, price data is not readily available. On top of that, agents aren’t required to be certified, so the whole process of buying and selling a home can be informal.

Anthemis And 500 Startups Lead Usd20m Series A For Mexican Proptech Flat.Mx

UK-based VC Anthemis and 500 led a $20m Series A round for Flat.mx, a Mexican proptech focused on buying, renovating and reselling residential real estate, with participation from Expa and ALLVP follow-up. Arc Labs made a $25 million debt investment in 2020; ALLVP conducted a $4.5M pre-seed round in 2019.

Anthemis and 500 Startups co-led the investment, which included participation from ALLVP and Expa. Previously, Flat.mx raised a total of $10 million in equity and $25 million in debt. Other backers include Opendoor CEO and co-founder Eric Wu, Flyhomes co-founder and CEO Tushar Garg, and Divvy Homes co-founder Brian Ma.

Founded in July 2019, Mexico City-based Flat.mx started out with a similar model to Opendoor, buying properties, renovating them and then reselling them. In September, the proptech startup hosted one of Mexico’s largest pre-seed rounds to push the Opendoor real estate market model through the Rio Grande.

Mexicobased Flat.Mx 20m Series Startupsann Azevedotechcrunch

Flat.mx, a Mexico-based startup, raised $20 million in Series A funding led by Azevedo Techcrunch. The company provides an online platform that helps businesses and individuals find apartments for rent in Mexico City. flat.mx 20m series startup based in mexicosann azevedotechcrunch

Flat.mx, a Mexico-based startup, raised $20 million in Series A funding. The round was led by Accel Partners, with participation from existing investors Sequoia Capital and Mayfield Fund.

Founded in 2014, Flat.mx is a marketplace for furnished apartments and houses. The startup offers a wide range of apartments and houses in Mexico City, Guadalajara, Monterrey and Tijuana.

Flat.mx, a Mexico-based startup, raised $20 million in Series A funding. The round was led by Ann Azevedo, with participation from TechCrunch.

This is the largest Series A round ever for a Mexican startup. Flat.mx will use the funding to grow its team and grow its user base.

The Flat.mx is a platform that helps people find and book rental properties.

Flat.mx, a Mexico-based startup, raised $20 million in Series A funding. The round was led by TechCrunch’s Ann Azevedo.

This funding will be used to help the company expand its operations and continue its mission of providing affordable housing options to people in Mexico.

Real Estate Startup Flat.Mx Azevedotechcrunch

Despite many advances in technology, real estate is an industry that is slowly gaining popularity. But for tech, that meant “business opportunity.”

As a result, the startup launched in 2019 and raised a preliminary round of $4.6 million in September of the same year.

“The more we look at it, the more we find that the Mexican real estate sector is still doing business the same way it was 40 years ago,” Noruega said.

“If you wanted to buy a property, selling a house could take nine months or a year. We saw this as a huge opportunity.

More recently, Flat.mx also plans to partner with mortgage brokers to offer potential buyers financing options. In addition to giving buyers the opportunity to purchase their dream home, this strategy can also speed up the start-up process.

Naturally, Flat.mx’s investors are bullish.

Archie Cochrane, principal shareholder of Anthemis Group, said his company sees Flat.mx as an integral part of its integrated financing concept in the context of the Mexican real estate sector.

“The iBuyer model itself is well researched and developed in many parts of the world, but it is also a complex model with many variables that requires an experienced and astute team to implement the strategy,” said wrote Cochrane in an email. “When we met Victor and Bernardo, it was clear that their clear vision and deep understanding of a broader set of possibilities would set them up for long-term success.”

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Conclusion

“Most models copy successful models from the more mature US tech space,” he said. “Since we started investing in proptech, we have never seen such an innovative approach to seizing a trillion dollar opportunity.”

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