Properly

Overview
News
Residential PropTech?
Product stageSegments
Early
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Online marketplaces
?

Canada-based Properly is a real estate brokerage platform that allows users to search, buy, sell, and receive market estimates on residential properties. The platform charges 3%–7% commission on sale transactions and provides a “buy before you sell” feature that allows home buyers to move into new homes before selling their existing homes. Properly then sells these on behalf of the client and provides a 100% refund on the upside value of the sale assurance price. It also offers to buy the property based on the sale assurance price if the client does not find a potential buyer after 90 days from its listing.

In September 2023, the company was acquired in two separate transactions for undisclosed amounts. Properly’s co-founders arranged a deal with US real estate company Compass, while its brokerage and search portal were sold to an unnamed Canadian real estate innovator. The acquisition followed a pivot in January, when Properly halted its home purchase guarantee due to market volatility after previously raising significant funding; however, it faced layoffs and paused expansion.

HQ location:
Toronto ON CAN
Founded year:
2018
Employees:
51-100
IPO status:
Private
Total funding:
USD 154.3 mn
Last Funding:
USD 28.0 mn (Series B; Aug 2022)
Last valuation:
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