This week, Australian property management proptech startup, :Different, announced that it raised $3.5 million in its latest funding round, with PieLAB, the country’s leading proptech venture capital firm, leading the investment and AirTree also participating.
:Different aims to revolutionize property management in Australia by integrating intelligent technology with experienced property managers to help landlords save money and time while improving service. Property owners pay a flat fee of $100 per month, instead of a percentage based on the rental price, for an honest and equitable service.
:Different’s tech platform, designed for this purpose, is the cornerstone of the company’s services, automating everyday tasks while property managers concentrate on delivering excellent customer service. The :Different owner app offers 24/7 access to important documents such as lease agreements, statements, and maintenance requests, while the tenant app simplifies requests and speeds up communication.
The company :Different has experienced significant growth over the past year, resulting in a recent funding round that raised its value. Its customer base has increased five-fold to over $700 million in property management across New South Wales and Victoria. The team has also grown, quadrupling to 32 members as the company expands its product, engineering, and design team. This funding will help :Different expand into new markets, enhance its tech platform, and build a team of expert property managers.
:Different was created to address issues with the traditional approach to property management. Landlords were paying high fees for minimal support, and the company believed there was a better way. To solve this problem, :Different developed a tech platform that automates daily tasks and offers property owners a flat fee, along with extras like rent guarantee and a year’s free landlord insurance. This approach helps Australians save money while receiving better service.
The company has already achieved significant success in Sydney and Melbourne and is now expanding to Queensland. Co-Founder Mina Radhakrishnan commented that :Different has big growth ambitions and this latest funding round will help them continue to revolutionize property management in Australia and beyond.
AirTree first invested in :Different in 2017 to help launch the company in Sydney and has now backed it again as it expands to Brisbane. Craig Blair, Co-Founder and Managing Partner at AirTree, is excited to see :Different transform the property management experience for landlords and tenants through smart technology.
PieLAB Venture Partners has also invested in :Different and is excited to work with the team to bring first-class technology to the property management and home services sector in Australia and globally. Richard Anderson, Investment Director at PieLAB Venture Partners, believes that working with some of the world’s best technology entrepreneurs to build a fully integrated technology platform aimed at the property management sector, combined with a unique and innovative fixed fee price, is an exciting opportunity.
