Business

Brazilian real estate startup Alude raises a $3.3 million Seed round

Ribbit Capital, Y Combinator and founders of Stone, Wildlife and Brex are among the investors in the firm

Alude's CEO, Alexandre Dubugras. Photo: Alude/Courtesy
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  • Alude aims to use the round to improve its product and scale it, increasing distribution to brokers;
  • Alude’s technology developed a platform capable of automating the rental process.

The Brazilian real estate startup Alude, that optimizes the service of real estate brokers through software, raised a $3.3 million Seed round co-led by Ribbit Capital, Y Combinator, Maya Capital, and GFC funds, besides some individual investors like Hugo Barra and the founders of Stone, Vivareal, Wildlife, Brex, Gympass, Ingresse, and Plaid.

Alude aims to use the round to improve its product and scale it, increasing distribution to brokers. Alude’s technology developed a platform capable of automating the rental process. The software is responsible for background checks, document collection, online signature, and insurance purchases.

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The startup’s plans span the entire region. According to the CEO, Alexandre Dubugras, Alude wants to operate throughout the Brazilian territory and become the largest home insurance and rental guarantee company in Latin America.

According to the startup, it reduces costs and hours of work for brokers. Tenants and buyers can complete the entire process in one day remotely. The product is offered free of charge to traditional real estate agents.

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“Our mission is to empower the broker with the tools and knowledge necessary for him to focus all his attention on the client, improving service, without worrying about deadlines and bureaucracy”, stated Dubugras.

The company’s revenue comes from the sale of financial and domestic products to its customers, such as insurance, for example. In the future, Alude intends to act as a concierge and offer, among other services, internet, furniture, logistics for changes, in addition to processing payments.

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By the end of 2020, the platform may only be used by a small list of invited brokers – 150 of them already use the product with 100% of customers, while 150 are on the waiting list. The expansion is scheduled for 2021.

“Our goal is close the next year with 20,000 rentals. Having the trust of national and foreign funds betting on our business is a great motivation to further improve our solution and gain scale”, said the CEO.

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