SA prop-tech startup Propsource raised undisclosed funding to expand residential possibilities

As it expands its selection of residential products, South African prop-tech firm PropSource has raised an unknown sum of money.

A countrywide commercial real estate firm called PropSource works directly with listed nationals, or reits, to fill vacant spaces in their property portfolios. Over 3,500 vacancies are included in the startup’s property database, which was created using technology.

In order to develop a home product offering that is now open to the public, the business acquired an unknown sum of equity capital from an unnamed investor earlier this year.

“We have been developing a turn-key property management, sales and lead generation system,” said Percival van der Walt, principal and director of PropSource.

“We aim to bridge the gap between property and technology once and for all for all landlords, tenants, and of course, most importantly to us, our agents.”

The startup’s system began on the business side as a lead generator but swiftly advanced to be able to give commercial agents precise probability matches of properties that meet clients’ demands.

“This is completely automated and brokers do not even need to go search for a property themselves,” said van der Walt.

“Uptake in the market is very, very positive, and we aim to have over 100 agents on our system by the end of 2022.”