The Australian property management company, :Different, has successfully raised A$25 million in a Series B funding round with the leadership of x15ventures, the venture-scaling unit of Commonwealth Bank, and Antler. The company plans to use the funds to expand its national presence and grow its team of property managers and technology platform to enhance its services in managing homes and supporting their residents.
Founded in 2017 by Mina Radhakrishnan and Ruwin Perera, both former executives in Silicon Valley, :Different has experienced rapid growth in reimagining property management through the integration of people and technology. With a doubling of its team in the past year, the company now serves properties across the eastern seaboard of Australia, with thousands of owners, tenants, and properties under management.
Through this partnership, CBA and :Different will collaborate to offer exclusive benefits and opportunities to homeowners throughout Australia, as :Different aims to reach the bank’s 15 million customers. As part of the partnership, :Different will be accessible across various CBA channels, including the CommBank app, to provide guidance and support to property investors throughout the entire home buying journey.
Co-founder Mina Radhakrishnan expressed her thoughts on the recent raise and partnership, highlighting the motivation behind starting :Different. The company was founded due to the numerous stories of unsatisfactory experiences of property owners and renters with their property managers, such as inadequate communication and transparency regarding crucial matters that can significantly impact their overall living and ownership experience. Recognizing the need for change, :Different aimed to provide a superior experience for property owners, their properties, and the tenants through caring people and powerful technology.
Radhakrishnan further stated that :Different’s ultimate goal is to become the comprehensive home assistant. The recent funding round and collaboration with CBA are crucial steps towards achieving this objective and assisting even more Australians.
Ruwin Perera, co-founder of :Different, expressed excitement over the recent raise and partnership with CBA. He described the alliance as a significant opportunity for both :Different and Australians nationwide. By leveraging CBA’s 15 million customer base, :Different aims to offer a better approach to home ownership.
Perera emphasized the intrinsic link between finance and homes and stated that :Different is a trusted partner in the home. With CBA’s support, the company aims to deliver value through innovative products and services as the foundation of a home platform designed to cater to the needs of homes and their residents.
Perera also expressed enthusiasm for the backing of x15ventures and Antler, with Antler’s international presence providing the opportunity to expand :Different to other global markets. Both partners share :Different’s vision of disrupting the status quo to solve real-world problems in unique ways, making them an ideal fit.
Perera concluded by stating that the :Different team is excited about the new chapter and the opportunity to make a positive impact on the lives of millions of Australians who own or rent homes.
Toby Norton-Smith, the Managing Director of x15ventures, has expressed his excitement about welcoming :Different into the x15ventures family. The investment and strategic partnership with :Different is in line with the company’s commitment to providing unique products and services to CommBank’s customers. Norton-Smith is confident that their ventures will enhance the digital customer experience throughout the home buying journey.
Norton-Smith considers it a privilege to work closely with exceptional founders like Mina and Ruwin, as well as global industry leaders like Antler. This exposure and immersion in the broader startup community is a crucial part of x15ventures’ strategy to build, buy, and invest in digital businesses that will transform the banking industry.
According to Antler Partner Teddy Himler, they are proud to provide support to :Different as they maintain their momentum as Australia’s fastest-growing property manager. Himler sees :Different as a team of world-class professionals who are creating a customer-focused platform for homes in one of the most exciting emerging technology ecosystems worldwide and beyond.