Properly, a Toronto, Canada-based real estate technology startup, raised $22m in Series A funding.
The round included $12m in equity and an initial $10m debt facility.
The equity funding was led by Prudence Holdings (founding investor in Compass) and FJ Labs (investors in Airbnb, Roofstock and Clearbanc), with participation from Golden Ventures, Kevin Ryan of AlleyCorp and others.
The company intends to use the funds to accelerate expansion within Calgary and to other Canadian cities, including Edmonton in Fall 2019, and add employees across all departments.
Founded in 2018 and led by Anshul Ruparell, CEO, Sheldon McCormick, COO, and Craig Dunk, CTO, Properly uses machine learning to enable homeowners to discover what their home would sell for on the open market, with the option to sell directly to Properly and close within few days. The company offers a Price Match Guarantee, which means if the home sells for more than Properly’s offer, the majority of the upside is refunded to the customer.
After launching in Calgary last summer, Properly is now buying or selling a home nearly every day.