Proptech platform secures $32m in Series B funding round

A property technology platform has secured $32m in Series B funding to accelerate its growth plans.

Plentific has secured the funding in a round led by AO Proptech, with support from international investment firm Target Global and existing investors like Round Hill Ventures.

Specialising in technology aiming to enable landlords to deliver a better, more transparent and digital tenant experience whilst reducing operational costs across repair and maintenance services, Plentific digitises the rental experience and streamlines manual processes.

Cem Savas, CEO and co-founder of Plentific commented: “It’s a massive market we operate in with very old systems in place.

“There are long-standing structural barriers that housing companies have to overcome in order to deliver a good tenant experience.

“By digitising the supply chain we’re creating a larger, more dynamic market of locally-available tradespeople and removing unnecessary manual processes, significantly improving the tenant or leaseholder experience.”

Gregory Dewerpe, founder at AO Proptech added: “We are thrilled to back Plentific’s ambition to transform, improve and digitise property management, for the benefit of both tenants and landlords.

“Plentific’s one-platform solution is already helping social housing companies to overcome these challenges and we have initiated a rollout of Plentific into over 90,000 units in phases, across our strategic portfolio globally with thrilling results so far.”

Yaron Valler, general partner at Target Global, continued: “We are excited to join forces with Cem, Emre and the Plentific team.

“We view automation of the property management market as a new frontier in real estate and believe Plentific has found a unique angle allowing it to crack this market - this strongly reflects our investment thesis of bringing innovation through technology to truly European industries.”