PropHero secures AUD $25.1m in record Series A funding

PropHero has secured AUD $25.1 million in Series A funding, representing the largest Series A funding round for an Australian property technology firm.

This round attracted considerable interest from investors and was oversubscribed more than twice. Bailador Technology Investments led the funding, with participation from multiple international investors, including Fifth Wall, Samaipata, Opera Tech Ventures, AfterWork Ventures, and Jelix Ventures.

Founded in 2021, PropHero uses AI-powered technology to assist clients in acquiring top-tier investment properties in Australia. The company analyses vast data sets to identify high-growth areas. PropHero currently manages over USD $800 million in real estate assets for over 8,000 users across more than 40 countries. PropHero has achieved an annual revenue of USD $24 million and is already profitable.

David Kirk, Co-Founder and Managing Partner at Bailador, will join PropHero's board of directors following this investment. He commented, "Property is a huge global asset class that has been underserved by digital transaction solutions. PropHero provides a world-leading solution for investors, demonstrated by very high growth, word of mouth customer acquisition, and a high proportion of customers returning to purchase multiple properties. Bailador is backing Mickael, Pablo, and the wider PropHero team to continue executing on their growth in Australia and internationally."

Mickael Roger, Co-Founder and Co-CEO of PropHero, stated, "This raise will help us deliver our vision of offering everyone a Real Estate Wealth Advisor in their pocket, powered by Generative AI. Our mission is to transform real estate for the greater good: delivering high returns for investors, great living conditions for tenants, and energy savings through renovations."

The fresh funding will be directed towards the development and enhancement of PropHero's GenAI Real Estate Wealth Advisory platform. This platform is designed to replace the need for traditional buyer's agents and wealth advisors and will support PropHero's market expansion, operations scaling, and team growth in currently operational countries such as Australia, Spain, Indonesia, and Ireland.

Co-founder and Co-CEO Pablo Gil Brusola remarked, "Our ambition is to double revenue this year to USD $50 million, while remaining profitable. PropHero's success stems from our commitment to transparency and trust in property investment, with all data available to clients through our app."

Suvidh Arora, CEO-AU of PropHero, noted significant interest from global investors: "The round was oversubscribed by more than 2x. We are incredibly proud of the strong interest from high-profile global investors who believe in our vision. Our mission is to make property investment more accessible, with a particular focus on Millennials who are navigating a challenging housing market and seeking smarter, data-driven solutions to build their wealth."

The platform offers a comprehensive approach to real estate investment, encompassing property discovery, purchase, and continuous management. PropHero emphasises sustainable real estate, and its renovations have had a notable environmental impact: They have saved over 25,000 tons of CO2 in the past year, equivalent to planting 1.1 million trees.

PropHero's rapid growth ranked it the second fastest-growing company in the 2024 Deloitte Tech Fast 50, with revenue growth exceeding 200% annually. The platform appeals to retail and institutional investors, particularly those seeking a transparent, data-driven approach to property investment.