INSUBCONTINENT EXCLUSIVE:
QuintoAndar, the Brazilian real estate technology developer, has secured a massive $250 million Series D led by SoftBank, as the Japanese
conglomerate continues to deploy its $5 billion commitment to the Latin American region
advertise rental properties in Brazil
The site manages listings and visits, as well as transaction processing between tenants and landlords, and houses the digital contracts that
historically blocked deal flow in this industry
Co-founder and CEO Gabriel Braga says QuintoAndar has now entered unicorn territory thanks to the SoftBank-led round
Dragoneer also participated, as well as return investors General Atlantic and Kaszek (which recently announced a fresh $600 million fund of
expensive deposits, co-signer requirements and skyscraper-high insurance fees
On the supply side, amateur landlords are tunnel-visioned on making money from transactions, which creates a terrible customer service
experience for tenants, along with wasted hours of apartment hunting
Series C led by General Atlantic that closed just nine months ago
Braga declined to confirm the exact valuation of QuintoAndar, but says that it has crossed the threshold of billion-dollar status
less of a long-term goal and are opting to rent, meaning more money in the bank and freedom to relocate
This, the founder believes, creates a big opportunity to make renting more efficient in a country where 62% of Brazilians are aged 29 or
under, according to this review
attract foreign investors like SoftBank
unicorn status, but by number of property visits carried out on QuintoAndar
The company is projecting over 2 million visits scheduled through its platform in 2019, and is seeing 4,500 contracts signed per month
acquiring new customers in more cities across Brazil
The company also intends to attract new talent and build out broker partnerships
In the long term, QuintoAndar envisions launching more financial products for its customers, and eventually using its suite of data to make
billion-dollar Brazilian tech companies, but its founder is more interested in keeping the momentum going than celebrating entrance into the
Latin American unicorn club
