QuintoAndar, a São Paulo, Brazil—based startup that created an innovative digital apartment rental platform, secured R$250m in Series C funding.
The round was led by General Atlantic, with participation from existing investors Kaszek Ventures, Ruane, Cunniff & Goldfarb, Qualcomm Ventures and QED.
The company intends to use the funds to consolidate its already-existing operations in Belo Horizonte, Brasília and Goiânia, to start new operations in Porto Alegre and Curitiba and to create a partnership system with the country’s main real-estate agencies who will be able to use the platform to offer QuintoAndar’s renting experience to clients, both landlords and tenants.
Led by co-founder and CEO Gabriel Braga, QuintoAndar provides a digital apartment rental platform designed to eliminate expensive bureaucracy and guarantor requirements for tenants and to provide high returns for landlords through a faster rental process and rental payments assurance.
The company began operating in São Paulo in 2015 and expanded to Rio de Janeiro in 2018.
In October 2018, the platform logged an average of 2 property visits per minute scheduled on their inventory, a 300% year over year increase.