PropHero secures largest proptech Series A funding in Australian history with $25.1 million raise

PropHero, the AI-powered human-centred real estate investment platform, today announced it has secured $25.1 million in Series A funding, marking the largest Series A round for an Australian proptech company.

The oversubscribed round for PropHero was spearheaded by Bailador Technology Investments Limited, with participation from a global lineup of experienced institutional and strategic investors including Fifth Wall, Samaipata, Opera Tech Ventures, AfterWork Ventures, and Jelix Ventures.

Founded in 2021, PropHero has revolutionised the real estate investment landscape through its one-stop-shop platform, helping clients buy the top 1% of investment properties in Australia thanks to its AI driven technology that analyses millions of data points to pinpoint areas with the highest growth potential for investors. The company’s innovative approach has already driven remarkable success, achieving US$24 million in annual revenue and profitability while managing over US$800 million worth of real estate for more than 8,000 users across 40+ countries.

David Kirk, Bailador Co-Founder and Managing Partner, said, “Property is a huge global asset class that has been underserved by digital transaction solutions. PropHero provides a world-leading solution for investors, demonstrated by very high growth, word of mouth customer acquisition, and a high proportion of customers returning to purchase multiple properties. Bailador is backing Mickael, Pablo, and the wider PropHero team to continue executing on their growth in Australia and internationally.”

“This raise will help us deliver our vision of offering everyone a Real Estate Wealth Advisor in their pocket, powered by Generative AI,” said Mickael Roger, Co-Founder and Co-CEO of PropHero. “Our mission is to transform real estate for the greater good: delivering high returns for investors, great living conditions for tenants, and energy savings through renovations.”

The funding will primarily be used to develop and enhance PropHero’s groundbreaking GenAI Real Estate Wealth Advisory platform, which is already replacing traditional buyer’s agents and wealth advisors. Additional investment will support market expansion, scaling operations, and team growth across the company’s operations in Australia, Spain, Indonesia, and Ireland.

“Our ambition is to double revenue this year to US$50M, while remaining profitable,” stated Pablo Gil Brusola, PropHero Co-Founder and Co-CEO. “PropHero’s success stems from our commitment to transparency and trust in property investment, with all data available to clients through our app.”

Suvidh Arora, CEO-AU, PropHero noted, “The round was oversubscribed by more than 2x. We are incredibly proud of the strong interest from high-profile global investors who believe in our vision.” He added, “Our mission is to make property investment more accessible, with a particular focus on Millennials who are navigating a challenging housing market and seeking smarter, data-driven solutions to build their wealth.”

The platform’s comprehensive approach covers the entire real estate investment journey, from property discovery to purchase and ongoing management. PropHero’s focus on sustainable real estate has already demonstrated significant environmental impact, with their renovations saving over 25,000 tons of CO2 last year—equivalent to planting 1.1 million trees.

PropHero‘s rapid growth has earned recognition as the #2 ranked company in the 2024 Deloitte Tech Fast 50, with revenue growth exceeding 200% annually. The platform serves both retail and institutional investors, particularly appealing to individuals and mid-level investors seeking transparent, data-driven property investment opportunities.

As part of the investment, David Kirk will join PropHero’s board of directors.