What is Properly?
Properly operates as a tech-enabled real estate brokerage headquartered in Toronto, Canada. The company distinguishes itself by providing a unique service model that empowers homeowners to purchase their next residence before finalizing the sale of their current property. By addressing the liquidity constraints inherent in traditional real estate transactions, Properly effectively bridges the gap between home ownership and market mobility. This value proposition positions the firm at the intersection of fintech and proptech, leveraging proprietary data and streamlined brokerage services to reduce the friction typically associated with residential real estate transitions.
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, FJ Labs, Bain Capital Ventures, and Prudence
Key Investors in Properly
Silicon Valley Bank
SVB Financial Group offers commercial and private banking, asset management, private wealth management, brokerage and investment services, funds management, and business valuation services.
FJ Labs
FJ Labs specializes in angel investing at a venture scale, focusing on marketplaces and network effect businesses, with a portfolio that includes numerous unicorn-status companies.
Bain Capital Ventures
Bain Capital Ventures is the venture capital division within Bain Capital, managing significant committed capital with a focus on early-stage investments across diverse technology sectors.
What's next for Properly?
With the recent influx of capital, Properly is well-positioned to scale its operations and deepen its market penetration. The strategic focus will likely shift toward enhancing its digital brokerage platform and expanding its service footprint across key urban centers. As the company matures beyond its initial growth phases, the emphasis will remain on optimizing the home-buying journey through technological integration and strategic partnerships. By maintaining a focus on liquidity solutions for homeowners, Properly is poised to capture a larger share of the real estate market, potentially setting new benchmarks for efficiency and consumer-centric service in the Canadian property sector.
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