Plentific raises $100 million

Proptech Plentific has received 100 million US dollars in its Series C financing round. This is primarily intended to drive forward the company's expansion in the USA.

Plentific wants to digitize the world of landlords, craftsmen and janitors, and the Berlin-based company has now 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 USA, joining the team. 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 range of services," says co-founder Cem Savas, explaining the start-up's goals. Plentific wants to expand its offering in the US in particular, as well as further develop the technology behind the start-up and open up new regions. It has been a successful year for Plentific: "We have more than doubled our number of employees to almost 200, opened a branch in the United States and consolidated our position on the British 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 bring everything together digitally, from surveyors to building contractors. According to the company, Plentific's software is used in 350,000 properties in the USA, Germany and the UK, giving 18,000 contractors 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 convinced the investors: "The Plentific team has built a powerful digital platform with an exceptional tenant experience at its heart," says Sam Brooks from Highland Europa. "We are impressed by Cem and Emre's commitment to digitizing the entire property management ecosystem and look forward to supporting them in the next phase of growth."