London Daily

Focus on the big picture.
Saturday, May 31, 2025

Property tech firm Plentific raises £73 million to fuel US expansion

Property tech firm Plentific raises £73 million to fuel US expansion

Property-tech firm Plentific has raised $100 million (£73 million) from international investors to fuel a "rapid" expansion in the US.
Canadian investment giant Brookfield's growth arm and Abu Dhabi sovereign wealth fund, Mubadala, are among those putting cash into the London-based property management software provider.

Plentific launched back in 2013 and caters to landlords in the UK and Germany seeking repairs and maintenance at scale, minus the hassle.

The company, which helps landlords find, vet and communicate with its 16,000-plus contractor network, has raised over £100 million to date and saw 17x growth in the last three years. Clients include Peabody and Knight Frank.

Last year Plentific doubled its headcount to 200 employees and opened its first US office.

Co-founder Cem Savas said the tech firm is aiming to "become the de facto digital partner for landlords and service providers across the world".

He said: “Our next step is to rapidly expand in the US, as well as look to begin operating in new geographies. We have only just scratched the surface of a $2.5 trillion potential market opportunity.

"[In the US] there are 52 million residential units managed by large landlords and many, many more commercial properties, such as shared offices, bars and restaurants, shops and so on. We’re really excited about the potential for growth across the US and part of the funding will be used to help accelerate that and cement our position in the market."

Plentific said the financing will also allow it to accelerate its engineering and product development.

Brookfield is one of the world's largest real estate owners. Managing partner, Josh Raffaelli, said the giant is "thrilled to partner with Plentific as it seeks to fully digitize the repairs and maintenance process".

Much of the global property sector's maintenance is still managed in a haphazard way on antiquated systems. Companies offering to simplify the process for landlords - whether they are Airbnb hosts or property giants - have sprung up in recent years, creating a "proptech" sector.

By digitising the process Plentific allows owners to asses their portfolio’s repairs, maintenance and compliance needs from a single screen, and integrate software solutions.

Savas said the company had seen a boom in demand since the pandemic hit and landlords needed to manage everything remotely.

He said: "Covid has accelerated the decision-making process for many landlords. There has been a gradual shift towards more digital solutions in the last few years, but the pandemic has forced many to more quickly implement new technology to help manage the process remotely."
Newsletter

Related Articles

0:00
0:00
Close
Satirical Sketch Sparks Political Spouse Feud in South Korea
Indonesia Quarry Collapse Leaves Multiple Dead and Missing
South Korean Election Video Pulled Amid Misogyny Outcry
Asian Economies Shift Away from US Dollar Amid Trade Tensions
Netflix Investigates Allegations of On-Set Mistreatment in K-Drama Production
US Defence Chief Reaffirms Strong Ties with Singapore Amid Regional Tensions
Vietnam Faces Strategic Dilemma Over China's Mekong River Projects
Malaysia's First AI Preacher Sparks Debate on Islamic Principles
White House Press Secretary Criticizes Harvard Funding, Advocates for Vocational Training
France to Implement Nationwide Smoking Ban in Outdoor Spaces Frequented by Children
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
Russia's Fossil Fuel Revenues Approach €900 Billion Since Ukraine Invasion
U.S. Justice Department Reduces American Bar Association's Role in Judicial Nominations
U.S. Department of Energy Unveils 'Doudna' Supercomputer to Advance AI Research
U.S. SEC Dismisses Lawsuit Against Binance Amid Regulatory Shift
Alcohol Industry Faces Increased Scrutiny Amid Health Concerns
Italy Faces Population Decline Amid Youth Emigration
U.S. Goods Imports Plunge Nearly 20% Amid Tariff Disruptions
OpenAI Faces Competition from Cheaper AI Rivals
Foreign Tax Provision in U.S. Budget Bill Alarms Investors
Trump Accuses China of Violating Trade Agreement
Gerry Adams Wins Libel Case Against BBC
Russia Accuses Serbia of Supplying Arms to Ukraine
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
Chinese Woman Dies After Being Forced to Visit Bank Despite Critical Illness
President Trump Grants Full Pardons to Reality TV Stars Todd and Julie Chrisley
Texas Enacts App Store Accountability Act Mandating Age Verification
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Vatican Calls for Sustainable Tourism in 2025 Message
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
Trump Threatens 25% Tariff on iPhones Amid Dispute with Apple CEO
Putin's Helicopter Reportedly Targeted by Ukrainian Drones
Liverpool Car Ramming Incident Leaves Multiple Injured
Australia Faces Immigration Debate Following Labor Party Victory
Iranian Revolutionary Guard Founder Warns Against Trusting Regime in Nuclear Talks
Macron Dismisses Viral Video of Wife's Gesture as Playful Banter
Cleveland Clinic Study Questions Effectiveness of Recent Flu Vaccine
Netanyahu Accuses Starmer of Siding with Hamas
Junior Doctors Threaten Strike Over 4% Pay Offer
Labour MPs Urge Chancellor to Tax Wealthy Over Cutting Welfare
Publication of UK Child Poverty Strategy Delayed Until Autumn
France Detains UK Fishing Vessel Amid Post-Brexit Tensions
Calls Grow to Resume Syrian Asylum Claims in UK
Nigel Farage Pledges to Reinstate Winter Fuel Payments
Boris and Carrie Johnson Welcome Daughter Poppy
×