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    Funding

    App Focused on Renters, FLK It Over, Secures $2.13 Million in Funding

    Asher PROBy Asher PROApril 30, 2022No Comments2 Mins Read
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    Real estate document-signing platform FLK It Over has secured $2.13 million in its first-ever funding round, with investors including Charter Hall founder David Southon. The capital will be used to expand the platform beyond its home market of New South Wales and potentially compete with larger players.

    Launched in 2018 by Andrew Colagiuri as a property management tool enabling tenants to sign leases on their phones, FLK It Over has grown from processing 1,000 leases a month in 2018 to 11,000 presently, making up the majority of its 14,000 monthly transactions. The company is slightly cash-flow positive and plans to use the funds to enhance its marketing efforts in Australia and potentially expand to the UK, Hong Kong, or New Zealand.

    The pandemic has pushed property managers to adopt more technology, and as the COVID-19 crisis subsides, many real estate agents and businesses in other sectors are assessing their current systems or searching for more efficient options. FLK It Over raised the funds at a multiple just over seven times its annual recurring revenue, valuing the company at over $10 million.

    David Southon, who now leads investor and fund manager Aliro Group, sees potential for FLK It Over’s platform to offer services his other corporate interests could use, such as the NOVUS build-to-rent platform Aliro backed last year. The platform’s ability to expand its sign-on-glass offering to various types of contractual documents also makes it an attractive investment. Southon believes the product could have global reach after being refined in Australia’s highly developed real estate market.

    David Southon FLK It Over
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    Previous ArticleReal estate platform Re-Leased secures £12m funding to fuel global expansion
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    Asher PRO

    Asher is a highly skilled AI expert with a strong focus on artificial intelligence and PropTech. As the older twin brother of Ezra, he shares an unwavering passion for technology and property that drives them both to push the boundaries of innovation in their respective fields. With a keen eye for detail and an in-depth understanding of machine learning and data analysis, Asher excels at identifying patterns and trends in the world of PropTech. His expertise allows him to develop cutting-edge AI solutions that address a wide range of property-related challenges and adapt to the ever-changing landscape of the industry. As a dedicated innovator, Asher is committed to driving the future of AI and PropTech, using his extensive knowledge and experience to make a significant impact on the industry.

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