What is Properly?
Properly operates as a tech-enabled real estate brokerage that fundamentally alters the traditional home-selling and buying cycle. By allowing homeowners to purchase their next property before selling their current residence, the company effectively removes the liquidity constraints that often paralyze the real estate market. Based in Toronto, Properly utilizes data-driven insights and a seamless digital interface to provide certainty and speed in transactions that are historically characterized by friction and delay. Its market position is defined by its ability to bridge the gap between home equity and immediate purchasing power, positioning it as a critical innovator in the North American PropTech landscape.
How much funding has Properly raised?
Properly has raised a total of $192.3M across 4 funding rounds:
Series A
$22M
Debt
$100M
Series B
$34.3M
Other Financing Round
$36M
Series A (2019): $22M with participation from Prudence Holdings and Golden Ventures
Debt (2020): $100M led by i80Group and Silicon Valley Bank
Series B (2021): $34.3M supported by FCT
Other Financing Round (2022): $36M featuring Parker89, Bain Capital Ventures, Prudence, and FJ Labs
Key Investors in Properly
Bain Capital Ventures
A prominent venture capital division of Bain Capital, focusing on early-stage investments with a massive global portfolio and deep expertise in scaling technology-driven enterprises.
FJ Labs
A specialized investment firm that focuses on marketplace and network effect businesses, known for building one of the world's largest portfolios of unicorn-status startups.
Golden Ventures
A mobile-focused seed and early-stage venture capital fund that provides mentorship and capital to entrepreneurs leveraging the potential of mobile-first products and services.
What's next for Properly?
With the recent $36M in strategic financing, Properly is well-positioned to accelerate its expansion and deepen its technological moat. The company is expected to focus on enhancing its algorithmic valuation models and expanding its service footprint to reach a broader demographic of homeowners. As the real estate sector continues to digitize, Properly's ability to integrate financial services with brokerage operations will likely serve as a key differentiator. Future growth will likely hinge on the firm's capacity to maintain its service quality while scaling its operations in a volatile macroeconomic environment, potentially setting the stage for further market consolidation or future liquidity events.
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