Bailador Technology Investments (ASX:BTI) Invests $12.5m in PropHero
Investment Details
Bailador Technology Investments Limited (ASX:BTI) has announced a $12.5m investment in Tomagen Pty Ltd (PropHero) as part of a $25m Series A round. The investment round was led by Bailador and included institutional and strategic investors such as Fifth Wall, Samaipata, Opera Tech Ventures, AfterWork Ventures, and Jelix Ventures.
Company Overview
PropHero, launched in 2021, is an AI-enabled property investment platform that assists individuals in sourcing, purchasing, and managing investment properties. Operating in Australia, Spain, Indonesia, and Ireland, PropHero has served over 2,000 customers and achieved a run rate revenue of more than $35m, with annual revenue growth exceeding 200%.
Executive Comments
David Kirk, Bailador Co-Founder and Managing Partner, stated, “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 and Pablo Gil Brusola, PropHero’s Co-Founders and Co-CEOs, commented, “We are excited to be partnering with Bailador who share our vision of the future of property investment. This capital raise enables us to further invest in our AI capabilities and product roadmap to better serve our customers. This is just the beginning for PropHero as we look to continue expanding internationally.”
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Bailador Technology Investments. The Motley Fool Australia has recommended Bailador Technology Investments. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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