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€29.1 million was raised by Plentific property technology

Who is plentific?

Plentific is a top European based property technology found in London. It has secured €29.1 million pounds successfully through a Serie B funding round  in order to boost targeted growth plans. 👀

Launched in 2012, Plentific is a technological platform that deals with property management. Through this platform, landlords are able to deliver a more transparent and better tenant experience through a digital platform while cutting costs across services for maintenance and repair.

Being among the fastest-growing company in property technology, it has empowered lots of property owners, the landlord or commercial real estate owners to deliver an efficient form of maintenance and repair via a simple and powerful management system. This including a network of more than 13,000 tradespeople who are verified.

The majority of its clients come from Germany and the UK. Amongthem are the major landlords, they serve to include Grand City Properties, Peabody, and Notting Hill Genesis among others.

The entire tenant experience is digitized while the manual process is streamlined. At the same time, the landlords get connections in a growing marketplace with independent and approved local trade’s people.

This platform comes with a dynamic system of procurement technology that enables landlords to offer contracts to small trade businesses that were only accessible to large companies previously. Through this, local communities get boosted by cutting down on the general cost via a competitive and more diverse supply.

Plentific provides the clients with total flexibility solution of the supply chain; reduces complexity in operation processes transformation as well as great data advantage for management of decision making.

This kind of approach from Plentific has come in handy to many housing providers by strongly boosting their outcomes. It has enabled them to access about 25% of locked operational savings, thereby speeding the delivery of service to fivefold and generating economic opportunities in their communities locally.

Up to date, the focus of plentiful has been precisely on housing associations, large scale landlords who are professional and local authorities in Germany and UK, where there is a rising urgency when it comes to provision of affordable, safe and greater quality of accommodations at the moment when the budget pressure is skyrocketing more than ever.

The upcoming company is now planning to expand into being a wider commercial/professional sector in real estate based in Europe. But that’s not all, it’s also planning to launch a branch of this company in the US market comprising of multi-families in the coming year.

In terms of institutional and professional landlords, the rise in the urge was to make every operation digital in order to create a transparent, seamless and cost-effective platform that has created a huge global opportunity for Plentific.

AO Proptech is the largest capital firm in Europe that led the funding round together with support coming from the International Target Global investment firm as well as existing investors like Round Hill Ventures.

According to Cem Savas, the Co-founder, and CEO of Plentific, There is a huge market in which we are operating through the old systems which are in place. Also, there are great structural barriers which have long been there and the housing companies have to find one way or another to overcome them just to offer the best tenant experience.

Through digitizing the chain of supply, we are able to create a market that is more dynamic and massive for trades-people who are locally available and cutting down manual processes that are unnecessary and in the process significantly improve the leaseholder or tenant experience.

He proceeded: there are approximately £7.1 billion costs of maintenance and repair in the UK affordable housing of 4-million homes in stock. With plentific, an annual saving of approximately £1.8 billion is assured through cutting expenses that arise from this sector direct costs as well as operational overheads.

With this amount of saving, it can all be reinvested with the sole purpose of improving the tenant experience as well as increasing the homes which are currently available for social housing.

But of course, these kinds of challenges are not solely for social housing, they are also common in residential private properties, who are investing in our services for commercial purposes.

According to Yaron Valler, Target Global, general partner comment, “We view automation of the property management market as a new frontier in real estate and believe Plentific has found a unique angle allowing it to crack this market – this strongly reflects our investment thesis of bringing innovation through technology to truly European industries. Target Global has been an ardent investor in proptech and is glad to extend our portfolio to the management domain.”

Conclusion

To cut the story short, Plentific is a technology company that is currently leading in bringing about fairness and transparency when it comes to the management of the property.

This company provides a solution platform that functions to connect contractors and landlords in order to provide a better resident service experience.

They serve to drive efficient operations and boosting the owners’ profits by offering to them complete insight into the current trends and occurrence with real estate in real-time.

Therefore, it’s a perfect means by which landlords can boost their profits in real estate but at the same time deliver exceptional services that will satisfy consumers and give them a better tenant experience. 

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