Founded in July 2019 and based in Mexico City, Flat.mx started with an Opendoor‑style model of buying properties, renovating them and then reselling them. To operate in Mexico it has built an instant‑offer iBuyer and a suite of supporting products — a proprietary MLS, a contractor marketplace, financial products, broker technology and a home maintenance service — aiming to be a one‑stop real estate platform. Its certified remodeled properties undergo a 200+ point inspection and a full legal review. The company reports sales growing 70% quarter‑over‑quarter, inventory expanded 10x over the last year, and headcount nearly tripled from ~30 to over 85; it has completed thousands of home valuations and more than 100 transactions. Flat.mx says its low‑touch digital solution proved resilient during the pandemic and plans to use new capital to deepen its iBuying presence in Mexico, invest in data and financial products, and continue building the broader super‑app ecosystem. Flat.mx operates an iBuying platform in Mexico that purchases homes directly from owners, renovates them, and resells them to shorten time on market from months to weeks. The company offers a 30-day buyback warranty, completes turnarounds in about two months, and is forming partnerships with mortgage brokers to help buyers secure mortgages quickly. Flat.mx is currently purchasing homes in roughly 50 neighborhoods around Mexico City and has built a team of about 30 people. The startup says the typical home costs about $150,000 and characterizes the business as very capital-intensive, which informed its decision to raise debt to scale purchasing capacity. Founders Victor Noguera and Bernardo Cordero, who met at UC Berkeley, plan to expand into other Mexican cities within the next year. Long term, the company aims to become a broader marketplace—"the Amazon of real estate"—with iBuying as a stepping stone. Flat operates an i-buying style marketplace that visits homes, documents features and measurements, determines a price, manages renovations and handles ownership transfers so sellers are paid within 72 hours. The company targets Mexico’s residential market and estimates a total addressable market of 40 million homes valued at $1.6 trillion, with roughly $25 billion in homes sold per year. Flat says it addresses information gaps in Mexican real estate pricing (no centralized database like Zillow) and the slow, notarized ownership-transfer process that can take up to eight months. Co-founders Victor Noguera and Bernardo Cordero met at the University of California, Berkeley and launched the business to adapt the Opendoor model to Mexico. Rather than expand immediately across Latin America, Flat plans to grow by expanding its product into other property-management verticals within Mexico. The company raised a notable pre-seed to fund these plans.

Total raised

$50M

Funding rounds

3

Latest round

Series A

Latest activity

Sep 2021