Business

Santander acquires Brazil's real estate marketplace Apê11

The digital platform that brings together home buyers and sellers will complement the bank's real estate financing ecosystem

Sandro Gamba, director of Santander's Real Estate Business. Photo: Santander/Courtesy
Ler em português
  • The deal is part of Santander’s strategy to expand its real estate and property financing business;
  • Created in 2018, Apê11 is a collaborative marketplace for buying houses and flats.

Santander Brazil acquired Brazil-based Apê11, a proptech that connects sellers to buyers of residential properties. The value of the deal was not disclosed.

The deal is part of Santander’s strategy to expand its real estate and real estate financing business. Under the agreement, the institution will hold a 90% stake in Apê11’s share capital.

READ ALSO: Mexican Flat raises $20 million Series A from Anthemis and 500 Startups

“The company is experiencing strong growth in its operation and has a robust enough technology to extend its offering with financial services and products currently made available by the bank,” Sandro Gamba, director of Santander’s Real Estate Business, said in a press release. “This digital platform will allow us to accelerate the development of integrated solutions for all stakeholders in the real estate market.”

READ ALSO: Sweden’s proptech Tmpl to launch a joint venture in Brazil with Webrock Ventures

Created in 2018, Apê11 is a collaborative marketplace for buying houses and flats. Currently, the operation contemplates properties located in the city of São Paulo, and the integration with Santander will enable national expansion. “Our focus is on building a real estate ecosystem. With the expertise of the platform, we will have more assertiveness and conversion of transactions, reducing overlapping activities and encompassing much of the real estate processes, raising the quality of the customer experience, whether the buyer of the property, the seller, and all agents who participate in the marketing,” adds Gamba.

According to Leonardo Azevedo, co-founder of Apê11, “the integration with Santander will give proptech more capacity to innovate in products and services for end customers, who will gain more options and formats in the transaction of real estate, and also for the network of partners, integrated by realtors, real estate agencies and developers.” The executive and his entire team will continue to lead the company’s day-to-day activities.

READ ALSO: Brazilian real estate startup EmCasa raises $21 million round from Globo Ventures and Igah Ventures

The transaction is subject to approval by the authorities and will involve the purchase of shares and capital increase.

Get the best insights about Latin America market in your inbox