Mexico-Based Prop Tech Flat.mx Secures $25 Million in Debt Financing From Arc Labs

Flat.mx, a Mexico-based prop tech startup, has reportedly secured $25 million in debt financing from Arc Labs. Founded in 2019, Flat.mx claims it is flipping the way homes are sold in Mexico.

“With a deep layer of technology and data, Flat simplifies the painful process of buying or selling a home. With Flat, sellers are able to sell their homes for a fair price in a matter of days, and move-in to a new apartment effortlessly.”

Flat.mx also noted that for buyers, it guarantees the conditions of the property, a fair purchase price, and a “seamless” buying experience.

“We are driven by the challenge of disrupting a large industry that hasn’t seen much innovation in the past recent years.”

According to Crunchbase News, Flat.mx, which focuses on iBuying, which is a process that removes the hurdles to selling a home., is now in the middle of the Y Combinator summer program. The company is currently purchasing homes in 50 neighborhoods around Mexico City and has a team of 30 employees. Flat.mx is expected to expand into other cities in Mexico within in the next year.

While sharing more details about the company’s development, Bernardo Cordero, Co-Founder of Flat.mx, shared with Crunchbase News:

Our vision long term is to be a marketplace, like the Amazon of real estate. We are also forming partnerships with mortgage brokers to help buyers get mortgages quickly. iBuying is a stepping stone to creating an ecosystem.”

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