This funding helps QuintoAndar reach a $5.1B valuation. Here are the top-line bullets you need to know.
QuintoAndar, a Brazilian online marketplace for residential rentals, raised $120M in an extended Series E with participation from Tencent Holdings and Greenoaks Capital Management.
How’s the company performing?
- Brazil-based QuintoAndar helps connect tenants to landlords and home-buyers to sellers.
- The company has over $9.26B in assets under management and facilitates 200,000 scheduled apartment/home visits every month.
- QuintoAndar has more than 2,000 employees.
Why does the market matter?
- The global real estate software market is projected to grow at a CAGR of 5.7% and reach a value of $20.6B by 2026, according to Industry Arc.
- Reduced fees and technological advancements have contributed to the industry’s growth.
- Despite dampened funding, 2021 has already seen several high-profile SPAC and IPO announcements, including Hippo Insurance’s $5B SPAC merger, Compass’ $10B IPO, States Title (now Doma)’s $3B SPAC merger, Offerpad’s $3B SPAC merger, and Matterport’s $2.3B SPAC merger.