Find out how these start-ups are reshaping the property and mortgage sectors
In today’s digital age, the best way for many industries to move forward is to embrace technological transformation – and the real estate and mortgage sectors are no exception. Recent developments in technology have dramatically altered how the property market operates and these changes have resulted in a myriad of benefits.
Among the innovations that are rapidly gaining popularity in the real estate and lending markets is the adoption of property technology, or proptech. As with most technological advancements, the goal of proptech is to enhance efficiency. And with the tech’s ability to automate legacy processes, which are often tedious and paper-based, many of the issues that are causing friction between clients and providers are being addressed.
Proptech encompasses a broad range of property-related fields, including sales, finance, investment, construction, and insurance. Some of the recent developments that have reshaped the real estate market include portfolio management platforms, mortgage aggregation and processing tools, and online conveyancing software.
Mortgage Professional Australia searched business information website Crunchbase’s data to find the country’s leading proptech companies based on total funding. Here are the firms that came out on top.
1. Archistar.ai
Total funding: $19.6 million
Number of investors: 2
Sydney-based Archistar is a property intelligence platform that combines architectural design with artificial intelligence (AI) to assist developers in decision-making. It provides tools to facilitate planning, design, feasibility assessment, and compliance, and can make accurate projections of a site’s development potential in a matter of seconds, rather than hours. The start-up was founded by Benjamin and Robert Coorey in 2010.
2. BrickX
Total funding: $12.5 million
Number of investors: 3
BrickX is one of Australia’s leading fractional property investment companies. Through its platform, investors can access real estate assets in small amounts, also called “bricks.” The platform also offers an in-platform secondary market for liquidity. The Melbourne-headquartered company was acquired by venture capital and private equity investment firm Thundering Herd in 2019.
3. ActivePipe
Total funding: $12.4 million
Number of investors: 5
ActivePipe is an email marketing platform designed for real estate agents and mortgage brokers. It uses a combination of live property displays targeting client preferences to provide marketing automation and predictive data sets to the property and loan origination industries. The proptech company is based in Melbourne.
4. Equiem
Total funding: US$8.4 million ($10.8 million)
Number of investors: 5
Number of acquisitions: 2
Equiem’s platform is aimed at assisting commercial landlords in finding and retaining high-quality tenants and in streamlining communication. Property owners can use the online tool’s comprehensive tracking features to maximise their onsite and retail services by accessing relevant data such as e-commerce metrics, event engagement, and space bookings. The company holds headquarters in Melbourne.
5. :Different
Total funding: US$8.1 million ($10.4 million)
Number of investors: 3
:Different offers a platform that facilitates and automates rent payment, organising tenants, maintenance requests, and house inspections. In an interview with Your Investment Property, co-founder Mina Radhakrishnan said one the proptech’s focus was providing a greater level of transparency and connectivity between investors and property managers.
“Through our online portal and apps, we provide owners complete transparency on every aspect of their property, like exactly how much they’ll be receiving each month and what maintenance work has been requested,” she said. “It sounds simple but it’s helping address some of the traditional issues that have plagued the industry.”
6. MadeComfy
Total funding: $7.5 million
Number of investors: 6
MadeComfy offers a property management platform designed for the short-term rental market. Among the end-to-end management services the company provides are furnishing and styling, advertising, cleaning and maintenance, and guest management. The firm was founded by Sabrina Bethunin and Quirin Schwaighofer, and is based in Balmain, New South Wales.
7. Yabonza
Total funding: $5.7 million
Yabonza’s property management platform enables property owners and investors to manage every aspect of their rental property, from finding tenants and rent collection to routine inspections and conducting maintenance. The proptech also provides users an interactive real-time view of their entire property portfolio on any device, with a dedicated asset manager focused on driving the property investments’ performance. The company is based in Sydney.
8. Soho
Total funding: $4.7 million
Number of investors: 3
Soho offers a property network platform, where real estate agents can connect with sellers, buyers, and renters. The Sydney-based firm also provides an online marketplace where users can list their properties for free. The platform can be downloaded as a mobile app that is compatible with both Apple and Android devices.
9. REALas
Total funding: US$443,000 ($569,000)
Number of investors: 1
REALas’s platform uses proprietary algorithms to provide accurate price predictions of properties listed for sale, including those sold in auctions and private treaties. The Melbourne-based start-up was acquired by ANZ in 2017.
10. Instarent
Total funding: $333,000
Number of investors: 1
Available via web and mobile app, Instarent’s property management platform allows landlords and property owners to find tenants and coordinate building and repair through its network of tradies, without enlisting the help of a property manager. In an interview with Your Investment Property, co-founder and chief executive AJ Chand said that the platform addresses common issues encountered by landlords and property investors “by bringing an end-to-end-management solution.”
“Landlords can list properties and find tenants, create online applications, and vet tenants,” he said. “There’s also payment automation for rent collection, the ability to log and track repairs, and hold inspections in real time.”
11. Joust
Total funding: US$259,200 ($330,000)
Adelaide-based Joust is a considered a major disrupter in the mortgage market. The online marketplace connects lenders and borrowers, and lenders can compete for the right to provide a home loan. The tool is free and non-committal, and helps borrowers find affordable home loan rates.
12. RealAR
Total funding: US$120,000 ($154,000)
Number of investors: 2
RealAR offers an augmented real estate app that allows users to see a property before it is built. Apart from home buyers, the app can be used by volume home builders and off-the-plan investors. The proptech company is based in Gold Coast, Queensland.
