Canada Real Estate: Properly Raises $36 Million

Properly, a Canada-based Proptech, has raised CAD $36 million according to a blog post. The funding round brings Properly’s total raised to CAD $192 million. A valuation was not immediately available.

Properly claims to be the “best funded and fastest growing real estate startup in Canada.” Properly launched a year ago in the summer of 2020 and, since that date, has facilitated more than CAD $1 billion in transactions.

The capital injection is expected to help Properly “lead the transformation of the Canadian real estate industry.”

Anshul Ruparell, CEO and co-founder of Properly, commented:

“We’re working to create a world where customers can buy and sell a home with confidence and certainty, eliminating the unnecessary friction and stress of the traditional way. Our approach of grounding our products, services and technology in what will improve Canadians’ real estate experience has led to exciting growth and changes to the industry that are long overdue. We’re thrilled to have this additional funding to be able to support more customers across more points in their real estate journey.”

Merritt Hummer, Partner at Bain Capital Ventures – a firm that participated in prior rounds, said they have been impressed with what Properly has been able to accomplish since the last round:

“We were eager to continue our support and expand our investment in the company as they continue to be uniquely positioned to lead the transformation of the real estate category in Canada.”

This financing follows a CAD $100 million  credit facility financing, which enables us at Properly to purchase a customer’s home if it doesn’t sell on the market, and a CAD $44 million Series B round.

Properly stated in the Toronto metropolitan area and has since moved into Vancouver. The company predicts that it is positioned to become the partner of choice for more than 50% of the Canadian real estate market.

Properly is a “tech-enabled” real estate platform that aims to “offer more value to our customers for the same amount that a traditional real estate agent charges.” The company also offers “Sale Assurance” and will purchase a home if it does not sell within a few months. Properly also offers an in-house mortgage.


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