Business

Brazilian proptech QuintoAndar buys operations from several Latin American real estate portals

Navent has more than 6 million properties advertised on its portals. The acquisition makes QuintoAndar the leading group in the sector in Latin America and is a key condition for attracting and digitizing real estate companies from across the region.

Gabriel Braga, co-founder and CEO of QuintoAndar (left) and André Penha, co-founder and CTO of QuintoAndar (right). Photo: Courtesy/QuintoAndar
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QuintoAndar announced this Thursday the acquisition of the real estate operations of Navent Group, which includes the companies Zonaprop, in Argentina; Imovelweb, Wimoveis, and Union Softwares, in Brazil; Plusvalia, in Ecuador; Compreoalkyle in Panama; Adondevivir and Urbania, in Peru; Inmuebles24, in Mexico; and Tokko Broker Software, which operates in all of these markets. According to the company, the agreement “consolidates QuintoAndar holding as the main housing group in the region.”

Navent has over 6 million advertised on its portals today. The acquisition is also a key condition for QuintoAndar to attract and digitize more real estate agencies across the region. Although at the beginning it was seen as a competitor of traditional businesses, vying for the brokers’ time with them, the startup sees real estate companies as partners and an essential part of the ecosystem of each city where it has been operating for some time. They are still the most effective channel for generating demand; on the other hand, they need a helping hand of technology to offer a better service and make the “conversion” of the customer.

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It was also with this goal in mind that, in March this year, QuintoAndar added to its portfolio Casa Mineira, a traditional real estate and advertising portal. In September 2021, it acquired Atta, a company focused on real estate credit services. And in December 2021, the incorporation of the digital lease guarantee startup Velo allowed the company to offer other real estate companies one of the most popular services ever offered by QuintoAndar: receiving guaranteed rent for real estate companies, regardless of the lessee’s payment, with allegedly the fastest refund on the market.

“This is an important milestone in achieving our mission: to help people live better,” said QuintoAndar’s co-founder and CEO, Gabriel Braga, in a press release. “It is a great satisfaction to leverage the growth of these great partnerships throughout Latin America, creating a ripple effect that, at the end of the day, benefits those seeking their dream home,” added Braga.

“What Navent and QuintoAndar will do together is to bring real estate companies closer to consumer expectations, raising the bar for an experience that unlocks conversion and liquidity,” said Navent co-founder and CEO Nicolas Tejerina.

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Navent will continue to operate its real estate services without interruption and will have more access and resources in technology and talent to drive innovation with new tools and solutions.

QuintoAndar, present in over 40 cities in Brazil, currently has more than 150,000 properties and BRL 50 billion in assets under its management.

On the occasion of the announcement of its $300 million Series E round, led by Ribbit Capital, in May this year, QuintoAndar revealed that, in the coming months, it would announce its first international operation in a city in Mexico. The new acquisition will certainly help accelerate these plans.

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