South African Proptech Flow closes $4.5M Pre-Series A to Expand in Europe
Flow, a South African proptech startup, has raised $4.5 million in a pre-Series A funding round to support its mission to revolutionize the real estate industry's approach to digital marketing.
The platform utilizes APIs to connect property portals and CRM platforms to social media channels, enabling fully automated off-site advertising on platforms such as Instagram and Facebook. This innovative approach aims to overcome the fragmentation currently faced by the industry, enabling real estate agencies and property developers to reach customers on digital channels.
Flow claims over 300+ clients use its platform – a client being a real estate agency or developer where each office has about 15 to 20 smaller agents. So more broadly, Flow is used by nearly 6,000 agents across South Africa, Namibia, Botswana, Mauritius and Australia. The startup says it makes money by getting a percentage cut on marketing spend from agents, adding that revenue has been growing 20% month-on-month within the past year.
The funding will be used to expand the platform's capabilities, including integration with other social media platforms such as TikTok and LinkedIn, as well as advertising channels such as digital out-of-home billboards.
Flow will also use part of the funding to expand into Europe, targeting property portals and CRM platforms in France, Germany, Belgium, and the UK. The co-founders believe that Flow's technology and attention to design will give them an edge in the European market, despite the stiff competition.
