Plentific team raises $32 million on its journey to building the future of property management
In 2013, it started off as a simple solution to a complex problem, a thought coexisting between 2 former bankers and property developers. Today, Plentific’s ambitious team - spanning 5 countries, 11 nationalities and 21 languages - celebrates a major milestone.
We’re incredibly proud to announce that we’ve raised $32 million in a Series B funding round.
The sizable funding round is led by Europe’s largest Proptech venture capital firm, A/O Proptech, with support from seasoned technology venture firm Target Global and existing investors such as Round Hill Ventures.
In addition to cementing ourselves as an industry-leading name for property repairs, maintenance and management, this new round will further drive Plentific’s mission to improve lives by transforming the way essential tenant services are delivered.
Our platform and dynamic procurement technology enables landlords to deliver a better, more transparent tenant experience whilst significantly reducing operational costs across all repair and maintenance services. The result is an entirely new experience - digitised, streamlined and seamless - all bolstered by an ever-growing marketplace of approved independent local tradespeople.
This revolutionary approach has dramatically improved outcomes for housing providers, helping them to unlock operational savings of around 25%, speeding up service delivery fivefold and creating economic opportunities within their local communities.
But that’s not all.
Our ambition is second to none, and we believe this incredible journey has just begun.
To date, our focus has been mainly on nationwide housing associations, local authorities and large scale professional landlords in the UK and Germany, where there is a growing sense of urgency around the provision of safe, affordable and higher-quality accommodation at a time when budgets are under greater pressure than ever.
This new funding round will help us expand into the wider professional/commercial real estate sector in Europe - with plans to launch into the US multi-family market next year.
This year, we were also christened ‘The Uber of Repairs and Maintenance’ in eminent property publication Inside Housing. Addressing the moniker, co-founders Emre Kazan and Cem Savas focus on the empowering aspects of the platform.
“We empower housing providers with a platform to manage their properties. We utilise great local trade talent to create more jobs and build community cohesion. This technology we’ve built makes it easy to have all that control at your fingertips.”
Today, with over 120,000 properties (and counting) under management on our platform, Plentific’s enterprise SaaS offering looks, feels and functions very differently to the way it started.
Emre expresses that in tailoring the platform for clients, it takes on part of their identity. And he couldn’t be happier because he’s building bespoke technology solutions in a way no one else in the sector can match.
Our rapidly growing team currently comprises over 50 passionate, driven individuals. Co-founders Emre and Cem strongly believe that people make our technology what it is. “At the heart of Plentific is a belief that great technology can create great experiences and that would not be possible without the incredible people who work here.”
There's so much more to come.
Watch this space for the next big chapter in our story. Stay tuned for our future growth trajectories, the new geographies we'll explore and a whole host of new features coming to Plentific. We're on a mission to make property work better for everyone.
Read the press release here.