Participated · Series B · Jul 2021

Properly is a technology-enabled real estate brokerage offering a suite of products and services designed to provide control and transparency. The company supports customers across multiple stages of the buying and selling process, from the initial online search to securing financing and transacting on a home. Properly launched in Toronto in Summer 2020 and is headquartered in Toronto with operations in Vancouver. The leadership team includes CEO Anshul Ruparell, CTO Craig Dunk and COO Sheldon McCormick. Since launch, Properly has supported over CAD$1 billion in transactions. The company says it will use the new funds to further invest in technology and expand its offering of products and services, and its total funding to date is CAD$192 million. Properly is a technology-powered real estate brokerage focused on reducing friction in home transactions by offering proprietary tools and services that support customers from search through closing. The company says it has experienced exponential growth and plans to use new financing to expand nationally across Canada’s $400 billion real estate market. Properly emphasizes making transactions “genuinely frictionless” and intends to complement existing partnerships with large Canadian banks to create a more seamless experience. Management frames the product suite as best-in-class tools and services for homebuyers and sellers. The company’s CEO, Anshul Ruparell, describes the business as early in its journey despite rapid growth and positioned to scale services across the country. The firm highlights strategic relationships with insurance and title-tech partners to support its expansion and product delivery. Properly uses machine learning to enable homeowners to discover what their home would sell for on the open market and offers the option to sell directly to Properly and close within a few days. The company provides a Price Match Guarantee so if a 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 was buying or selling a home nearly every day. Properly plans to accelerate expansion within Calgary and enter other Canadian cities, including Edmonton in Fall 2019, and to add employees across all departments. The company is led by Anshul Ruparell (CEO), Sheldon McCormick (COO) and Craig Dunk (CTO). Properly raised funding to support this growth and operational scaling.