Plentific raises $100 million

The proptech Plentific has received 100 million US dollars in its Series C financing round. This will be used primarily to further its expansion in the US.

Plentific wants to digitize the world of landlords, craftsmen and caretakers, now the Berlin-based company has raised 100 million US dollars in a Series C financing round. The round is led by US venture capitalists Highland Europe and Brookfield Technology Partners, with the United Arab Emirates sovereign wealth fund Mubadala Investment Company and RXR Digital Ventures, also from the US, joining as new participants. Existing investors A/O PropTech and Target Global are also participating in the round.

"We will now continue to rapidly expand both our global presence and our service offering," says co-founder Cem Savas, explaining the startup's goals. Plentific is looking to expand its offering in the US region in particular, as well as further developing the technology behind the startup and entering new regions. It's been a successful year for Plentific: "We've increased our headcount to almost 200, more than doubling it, opened a branch in the United States and consolidated our position in the UK and German markets."

Founded in 2013 by Savas and Emre Kazan, the start-up sees itself as a digital service provider in the real estate industry and aims to digitally bring together everything from surveyors to contractors. In doing so, Plentific's software is used in 350,000 properties in the US, Germany and the UK, according to its own information, and 18,000 contractors thus have an overview of the condition of their properties.

In the future, artificial intelligence and machine learning will also be integrated into the platform. This has also won over investors: "The team at Plentific has built a powerful digital platform with an exceptional experience at its heart for tenants," says Sam Brooks of Highland Europe. "We're impressed by Cem and Emre's commitment to digitizing the entire property management ecosystem, and we look forward to joining them in their next phase of growth."