- South African proptech startup, Flow, has raised a $4.5 million pre-Series A funding round.
- Futuregrowth Asset Management led the round with participation from Endeavor Harvest Fund, Kalon Venture Partners, Vunani Fintech Fund, Buffet Investments, and Steven Heilbron.
- The proptech marketing platform will use the funds to add other social media platforms, such as TikTok and LinkedIn, and other advertising channels, including digital out-of-home billboards.
Founded by Gil Sperling and Daniel Levy in 2018, Flow started as a platform that rewards tenants for paying their rent on time.
Before Flow, the co-founders built Popimedia, an adtech and performance marketing company that was a buyer of Facebook media inventory in Africa for some of the world's biggest brands.
While they sold Popimedia to a global communications group, Publicis, in 2015, they used some of the knowledge they gained while running the company to pivot Flow into its current business model.
By using APIs, Flow connects real estate firms and property developers with potential clients while automating their social media advertising.
It automates real estate agent marketing for developers. It also works with real estate websites to pull listings and automatically create ads on Facebook, Instagram, and other digital channels.
Flow claims that its proptech marketing platform improves agent revenue and property buyer and seller experiences.
It also says that revenue has increased by 20% month after month over the last year.
Flow claims it has over 300 clients using its platform, with about 6,000 agents using Flow in South Africa, Namibia, Botswana, Mauritius, and Australia.
According to the startup, it is in discussions with partners, primarily property portals and CRM platforms, to expand into Europe — France, Germany, Belgium, and the United Kingdom— where it will “face stiffer competition.”
Flow will also use the funds to drive its B2B growth strategy and integrate its social media-driven real estate marketing platform into existing international property portals and Customer relationship management (CRM) platforms.