Colombian rental marketplace Aptuno announced on Monday that it has recently raised $1.9 million in additional seed funding from multiple investors.
Other angel investors that participated in the seed round were Simon Baker, former REA Group CEO; Jonathan Wasserstrum, founder of Squarefoot; Martin Schrimpff, co-founder of PayU and Zinobe; Miguel McaAllister, CEO and co-founder of Merqueo, Alexander Torrenegra, co-founder of several technology companies such as Torre, and José Guillermo Calderón, co-founder and CEO of RobinFood.
The seed round is a continuation of efforts to boost capital since June 2020 where the Colombian proptech raised $680,000 in a pre-seed round led by Magma Partners and other investors.
“Our platform decreases the closing time from weeks to a couple of hours, thanks to the instant and accurate tenant screening process,” Juan Martin Delgado, Co-founder and Co-CEO of Aptuno said.
“This is especially valuable for our customers as low vacancy and peace of mind is critical to individual landlords especially in times of economic uncertainty,” Delgado added.
Aptuno’s platform was launched in April 2020 and currently showcases hundreds of rental properties in Bogotá and Medellín. The company also aims for regional expansion in Mexico City this year and other Latin American cities in the coming years.
As an end-to-end marketplace for residential real estate, Aptuno also provides a seamless and efficient experience for buyers and landlords. The real estate platform uses machine learning to reduce time-to-rent from five months to an average of one month.
With the additional seed fund, Aptuno plans to use 80 percent of the money raised to develop technology that improves its service, specifically financial risk machine learning models designed to analyse contracts and applicants with the aim of further reducing the number of transactions that require a third-party guarantor.