Australian Proptech start-up 'FLK it over' has successfully completed a $2.5 million capital raise to fuel its rapid growth within the domestic market and beyond. The SMS-driven platform, which assists real estate agents by significantly simplifying the tenant signing process, was created by Andrew Colagiuri, an innovator in real estate and former industry agent. The platform also aims to expand its services to different sectors, such as legal practices, financial advice organisations, and accounting firms.
FLK it over was developed to alleviate the burden of paperwork for real estate professionals while offering a user-friendly interface, seamless integration with various CRMs and industry-specific functionality. The platform has been designed specifically to meet the distinct challenges faced by the real estate industry, offering a smart, simple, and seamless experience.
As a result of the successful capital raise, FLK it over is set to increase its presence in the real estate tech space within the next one to three years. The company's goal is ambitious; to grow rapidly both financially and geographically. It is committed to boosting productivity and efficiency in real estate professionals and other business sectors through novel solutions.
Andrew Colagiuri expressed his enthusiasm looking forward: "We have an incredibly exciting 18 months ahead of us, as we continue to drive innovation in the real estate sector and provide a document builder and signing solution for sectors outside real estate. The real estate industry is one in which every process you want to perform ends with a signature, whether it be hiring, leasing, selling or buying."
Andrew further added: "FLK it over has become an essential part of agents everyday work lives; this capital raise will allow us to continue to innovate while expanding our geographical footprint. We are already seeing great traction in sectors outside real estate. They particularly like the time benefits of SMS delivery, it's a division of the business we expect to see significant revenue growth over the next 18 months."
In the company's first capital raise in 2022, it accumulated $2.13 million. Some of those initial investors, including Charter Hall founder David Southon, have once again shown their confidence and put their money behind this second capital raise.
On his continued investment, David Southon said, "Andrew is a passionate and driven founder, who has built an expert team and has now expanded the offering to provide technologically advanced, yet affordable e-signature solutions to all industries. I'm very excited for the future potential of FLK it over, given the significant productivity gains it provides its customers."
FLK it over was founded in 2016 with a vision to make administrative tasks less cumbersome for real estate professionals. Fast forward to 2024, the company has grown to a team of 24 staff members with further expansion necessary to meet increasing demand.
With more than 700 real estate agencies, including 4,500 property managers as clients, and more than 30,000 documents signed every month, 16,000 of which are residential leases, FLK it over has established its place in the industry.
Commenting on the recent capital raise, Andrew concluded, “Our goal is to continue providing innovative solutions and expanding our footprint, in not only the real estate sector but also other sectors including accounting firms and legal practices. This capital raise will play a pivotal role in achieving that vision.”