With information from EFE
Brazilian real estate selling and rental platform QuintoAndar announced Thursday the acquisition of Argentina’s Navent operations, which secures entry into five other Latin American countries.
The business, whose values have not been disclosed, allows the Brazilian leader in real estate operations through the platform to control the companies Zonaprop (Argentina), Imovelweb, Wimoveis, Union Softwares (Brazil), Plusvalia (Ecuador), Compreoalquile (Panama) and Where do you liveAnd Urban (Peru), Inmuebles24 (Mexico), and Tokko Broker Software, which operates in the six countries.
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The company explained in a statement that the goal of the operation is to accelerate QuintoAndar’s growth throughout Latin America, despite the fact that Navent’s operations will continue with its existing brands in each of the countries in which it operates. Many of the Navent portals are leading in their countries.
“The agreement reinforces QuintoAndar’s ownership as a major residential conglomerate in the region and reinforces the company’s commitment to the growth of the real estate ecosystem,” the Brazilian explained in a statement.
The Brazilian company plans to invest in its new controlled companies to improve its operations, but the value of the contributions was not disclosed either.
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QuintoAndar, which operates 150,000 properties in 40 cities in Brazil with a total value of 50,000 million reais ($8,928.6 million), has already demonstrated its appetite for growth and expansion in Latin America with three more acquisitions this year.
In March it acquired digital real estate agency Casa Minera, in September it acquired mortgage startup Atta, and in December it acquired digital rental guarantee company Velo.
The president of the Brazilian digital company, Gabriel Braga, explained that the company’s strategy is not only to increase the world of customers, but also to provide other services, such as real estate financing.
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“The acquisition allows to combine the best customer experience, already provided by QuintoAndar, with the best tools for the digital day of real estate, offered by Navent. The consortium creates a unique set of technology solutions that train real estate companies to conduct their business, with faster and simpler interactions, from search From the property to the signing of the contract.
Navent, founded by Nicholas Tekhrina, has been backed by Riverwood Capital, while QuintoAndar, born in 2013 as a start-up, becomes a unicorn in 2019.
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