Proptech start-up launches £750K funding round

Bristol-based start-up, Propflo, has announced that it is raising a £750k round to power the next phase of its product development and growth plans. It will use the funds to make a number of its consumer-based features available to estate agents, mortgage professionals and other stakeholders involved in property transactions and ongoing management to increase efficiency.

The team is also developing two new tools. The green home investment calculator will take into account wider benefits to help people decide the best energy efficient upgrades for their home. Developed in partnership with Knowledge Bank, Mortgage-ability aims to speed up transactions by showing how many and which lenders will lend against a property.

The platform, which includes an ‘Experian-like’ property score, gives people control of their property data (their homes ‘digital twin’) to better understand risks, protect value and transact instantly.

The team will be particularly looking for strategic investors with networks or commercial links to businesses that could utilise its productivity tools, and that complement their existing networks.

Luke Loveridge, Founder and CEO at Propflo, commented: “We’ve made such great progress over the last year. We’ve made huge strides in developing and refining the platform whilst working with early users and partners. This funding will help us build on what we’ve learnt to start scaling. It’s not just about funding though. We’re looking for the right strategic investors who ‘get it’, see potential, and want to join us on our journey.”

Lead investor, Ying Tan, added: “I’ve been impressed with Luke, Daniel and the team since I invested, and really pleased at the progress Propflo has made. With a revolutionary product which will disrupt the marketplace, this funding will accelerate the next phase of growth.”