This Series A brings Flat's total funding to $49.6M. Here are the top-line bullets you need to know.
Flat, a digital real estate marketplace, has raised $20M in a Series A. The round drew participation from 500 Startups, Expa, Anthemis, and ALL Venture Partners, among others.
HOW’S THE COMPANY PERFORMING?
- Mexico-based Flat facilitates the buying and selling of real estate across the country.
- The company’s services also include home valuations, property remodeling, property inspection, and legal reviews.
- Flat’s sales have increased by 70% quarter-over-quarter, and its real estate inventory has increased by 10x over the past year.
- The company currently has around 85 employees, up from 35 in mid-2020.
Source: Flat
WHY DOES THE MARKET MATTER?
- The global real estate software market is projected to grow at a CAGR of 5.7% and reach a value of $20.6B by 2026, according to Industry Arc.
- Reduced fees and technological advancements have contributed to the industry’s growth.
- Despite dampened funding, 2021 has already seen several high-profile SPAC and IPO announcements in the space, including Hippo Insurance’s $5B SPAC merger, Compass’ $10B IPO, States Title (now Doma)’s $3B SPAC merger, Offerpad’s $3B SPAC merger, and Matterport’s $2.3B SPAC merger.
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