PropTech Funding Leaves Positive Impressions

Good News for Wectory and fellow PropTech companies! Fifth Wall (which cradles the largest quantity of funds within real estate) stated that the monetary catchment within the European Real Estate Technology Fund had drawn their curtains, and that luckily, funds exceeded the initial predictions of investments with an equivalent of £120 million GDP. The financing here will be used towards inventing and expansion of the technology involved, in a bid to have the European industry on par with that of North America (which raised over £1 billion last year). Although PropTech became prominent within Europe since 2020, the speed at which the European PropTech market is growing is at a rate nippier than that in the U.S. or Canada. In 2021, the PropTech market in Europe and the UK accounted for a quarter of PropTech investor attention, equating to nearly €4 million, across more than 150 closed contracts. The expansion within the industry is able to then give more prospects to PropTech companies such as Wectory and the like. The distribution of our company’s advance rent, irreplaceable workforce, and experimental product design can now prosper even more, and push back any competitors through committing to a bump-free experience for our customers, whether they be landlords or tenants.   

If the pattern continues, then the European PropTech industry will see worthy results, attract new game-changers, and continue their fruition - the amount of horsepower put into our industry is expected to triple within the next year, promises Miguel Nigorra, the lead of Fifth Wall. Moreover, the European industry will be looking up, particularly startups which belong here, as solid organisational coordination can happen between the EU and international ground-investors, of which there are currently 23%. Crunchbase (2022) mentions that European localised investors will also be more eager to invest if their counterparts are doing so. The dashing PropTech investment growth gives more purpose to companies such as Wectory, who can use the investment towards the addition of new features, and talent retention.