Proptech firm Plentific raises $32m in funding round

Property technology platform Plentific has raised $32m in a Series B funding round.  The funding round was led by Europe’s largest proptech venture capital firm, A/O Proptech, with support from seasoned technology venture firm Target Global and existing investors including Round Hill Ventures. The London-based firm aims to help landlords deliver a more transparent and digital tenant experience, while significantly reducing operational costs across all repair and maintenance services.  It claims to have helped landlords unlock operational savings of around 25%.  Cem Savas, chief executive and co-founder of Plentific, said: “In the UK alone it costs approximately £7.1bn to repair and maintain the country’s affordable housing stock of four million homes. Plentific could deliver annual savings of up to £1.8bn a year through a reduction in direct costs and operational overheads for the sector. “Of course, these challenges are not unique to the social housing sector, which is why we have now started extending our offer to other private residential property owners and are launching our services for the commercial sector.” The firm, which is currently based in London, Berlin and Ankara, plans to launch in the US next year.  To send feedback, e-mail anna.ward@egi.co.uk or tweet @annaroxelana or @estatesgazette