UK-based VC Anthemis and 500 led a USD20m Series A for Flat.mx, a Mexican proptech focused on the purchase, renovation, and resale of residential real estate, with participation from Expa, and follow-on from ALLVP. Arc Labs made a USD25m debt investment in 2020; ALLVP led a USD4.5m pre-seed round in 2019.
(TechCrunch) – Flat.mx, which wants to build a real estate “super app” for Latin America, has closed on a $20 million Series A round of funding.
Anthemis and 500 Startups co-led the investment, which included participation from ALLVP and Expa. Previously, Flat.mx had raised a total of $10 million in equity and $25 million in debt. Other backers include Opendoor CEO and co-founder Eric Wu, Flyhomes’ co-founder and CEO Tushar Garg and Divvy Homes’ co-founder Brian Ma.
Founded in July 2019, Mexico City-based Flat.mx started out with a model similar to that of Opendoor, buying properties, renovating them and then reselling them. That September, the proptech startup had raised one of Mexico’s largest pre-seed rounds to take the Opendoor real estate marketplace model across the Rio Grande.
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