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Brazilian Digital Real-Estate start-up ‘QuintoAndar’ secures $300m funding at $4b valuation 

Sao-Paolo-based real-estate tech startup ‘QuintoAndar’ (translated as ‘Fifth Floor’ in Portuguese’) has announced it has closed on $300 million in a Series E round of funding that values the company at an impressive $4 billion.

Brazilian Digital Real-Estate start-up ‘QuintoAndar’ secures $300m funding at $4b valuation.

Founded in 2013, by Stanford College graduates Andre Penha and Gabriel Braga, ‘QuintoAndar’ is a revolutionary tech firm that engages not only in the selling/buying of properties and rent but also eliminates the need for a guarantor when purchasing, as well as assuring landlords that their tenants will pay rent in time. All of this essentially means a person could easily at a moment’s notice, with the swipe of a finger, purchase or rent a property of their wish. 

It is not surprising then, that this Latin American firm has attracted the likes of Silicon Valley-based Ribbit Capital who led its Series E financing. In addition, saw participation from SoftBank’s LatAm-focused Innovation Fund, LTS, Maverik, Alta Park, an undisclosed U.S.-based asset manager fund with over $2 trillion in AUM, Kaszek Ventures, Dragoneer, and Accel partner Kevin Efrusy. Not to mention the new valuation represents an increase of four times from when QuintoAndar raised a $250 million Series D in September 2019.

Such high valuation and affinity from abroad have exemplified QuintoAndar’s groundbreaking revolution as well as the burgeoning Latin American market, in which the start-up hopes to operate and expand within the next few years. Despite the covid pandemic, and with Brazil hit especially hard, QuintoAndar has navigated the crisis brilliantly and braved the storm to come out even stronger. In its first year of operation, QuintoAndar closed more than 1,000 transactions. It has now surpassed the mark of 8,000 transactions in annualized terms, growing between 50% and 100% quarter over quarter. The firm now offers more than 60,000 properties for sale across 40 Brazilian cities and large metropolises such as Sao Paulo, Rio de Janeiro, Belo Horizonte, and Porto Alegre.

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