DAAL Ventures invests in Mexico’s Pulppo
- Saudi Arabia-based VC DAAL, has taken part in the $5 million Seed funding round of Mexico-based proptech Pulppo alongside Y Combinator, 1984VC, Boost Capital, and others.
- Founded in 2021 by Matias Gath and Agustin Iglesias, Pulppo operates as an online broker, offering a complete solution for everything an agent needs to manage, from property appraisals to home visits.
- The newly acquired funds will enable Pulppo to grow its operations in Mexico and expand to other Latin American countries.
Pulppo, a proptech platform that empowers brokers by providing tools to boost their sales, has raised a $5 million Seed funding round to grow its operations in Mexico and expand to other Latin American countries.
The company operates as an online broker, offering a complete solution for everything an agent needs to manage, from property appraisals to home visits. Among other things, the startup provides technology so that sellers can know how their house is on the market and can have precise numbers to report increases or decreases in prices. While it takes between 9 and 12 months to sell a home in Latin America, Pulppo aims to help brokers reduce the selling time to less than 90 days by creating connected tools they can use right from their phones.
In 2022, the company allied with 30 real estate brokerages in Mexico, who have seen year-on-year growth of between 50 and 60 per cent in the first three months of activity after the alliance," says Gath. He also points out that a wide range of tools simplify broker management and empower it whereas the focus is on strengthening the only irreplaceable element in real estate processes: the human being.
“Pulppo helps brokers to focus on customer service, boosting their sales and the quality of their work. We automate administrative and marketing activities. We have a team of legal advisers who provide support in day-to-day activities and achieve excellent service”, he explains.
“DAAL is always looking for outstanding companies that disrupt the market and add value to their space, not only we found that in Pulppo, but we also found an enabler that focuses on the human element and eases things for them,” said Abdulrahman AlQahtani, DAAL’s CEO. He added ''we are very excited to be part of Pulppo’s journey and proud of the team’s accomplishments so far. We believe that Matias and Agustin are capable of taking the company to the next level, and we are happy to support them in their journey.”
It’s worth mentioning that Iglesias and Gath are not new to the entrepreneurial world, nor are they new to the real estate business. Iglesias founded Tokko, a real estate system with a focus on CRM. His company was acquired by Navent in 2017 and he took over the operation in Mexico. Meanwhile, Gath is a real estate developer and in 2016 he co-founded Kadabra, a delivery app that later passed into the hands of the Spanish Glovo (where he served as country manager for Argentina until 2019).