Properly raises $36 million CAD

Canadian real estate brokerage startup Properly Inc closed a $36 million CAD financing round from existing investors including Parker89, Bain Capital Ventures, Prudence, FJ Labs, Golden Ventures, Intact Ventures, Max Ventures, AlleyCorp, Interplay, Industry Ventures and others. To date, Properly raised $192 million CAD, making it “the best funded and fastest growing real estate startup in the country.”

Founded in 2018, Properly’s Sale Assurance allows individuals to put a competitive offer on a home, buy it, and move in, without the pressure of selling their current place first. If the home doesn’t sell on the market within 90 days, Properly buys it from the seller at the agreed-upon Sale Assurance price.

In the last year, Properly also launched its in-house mortgage offering, providing financing solutions to customers to create a more streamlined buying and selling experience.

Since launching in Toronto in Summer 2020, Properly has supported over $1 billion CAD in transactions.

“We’re working to create a world where customers can buy and sell a home with confidence and certainty, eliminating the unnecessary friction and stress of the traditional way. Our approach of grounding our products, services and technology in what will improve Canadians’ real estate experience has led to exciting growth and changes to the industry that are long overdue. We’re thrilled to have this additional funding to be able to support more customers across more points in their real estate journey.” – Anshul Ruparell, CEO and co-founder of Properly.

“We’ve been impressed with what Properly has been able to accomplish since its last fundraising round as they’ve proven they understand the needs of Canadian home buyers and sellers and can build offerings that are not only resilient in uncertain markets but are extremely beneficial for the customer. We were eager to continue our support and expand our investment in the company as they continue to be uniquely positioned to lead the transformation of the real estate category in Canada.” – Merritt Hummer, partner at Bain Capital Ventures.

“We’re excited by Properly’s continued traction in modernizing the Canadian real estate experience and believe they are uniquely positioned to be a leader in the market. Over the past year, their successful expansion into Vancouver along with the launch of their in-house mortgage offering has reinforced our confidence in their team. Properly’s track record of innovation and ability to adapt best practices from US proptech present an opportunity for scalable and long-term growth in the sizeable Canadian real estate market.” – Nate Levin, managing director at Parker89.