A big shakeup was announced today for Canada’s proptech space, as RealServus has snapped up online brokerage Property.ca, along with its associated brands Condos.ca and MrLoft.ca.
They’ll be a notable addition to the proptech investment and management services firm’s roster, which also includes Real Access Capital and the RealServus Brokerage Services Division.
While the terms of the transaction have not been disclosed, under the RealServus umbrella, RealServus states, Property.ca and its subsidiaries will benefit from new opportunities to scale, with improved access to capital, technology, and industry expertise.
Launched in 2014, Property.ca is among the most widely-used online real estate resources, with tools and data to aid real estate shoppers, whether they’re browsing listings, or perusing data, on all homes and condos for sale or rent in the GTA. The three sites combined boast more than 1M registered site users and had 1B in sales volume in 2021. The brands will continue to operate under their own banners, with the entirety of their agent workforce coming over in the acquisition.
“We are thrilled to bring Property.ca and its 250+ productive agents under the RealServus umbrella as they embody the values of our company and the offering we provide,” said Ron Peddicord, President and co-founder of RealServus. “The technology and innovation fueling each site are ground-breaking. And now, under the RealServus umbrella, we can provide the capital investment needed to fuel ongoing technological innovation and add services and expertise to help them flourish. These investments will help them become the most advanced lead generation tech brokerage in the country and expand into new market segments including new construction.”
RealServus also announced it’s the recipient of significant investment from venture capital firm Round13 Capital.
“The residential real estate and proptech sectors have been on our radar for some time now, and we are thrilled to partner with RealServus to build the leading platform in the space,” said Brahm Klar, Partner at Round13 Capital. “The team at RealServus shares our vision around the potential for this market and has the experience needed to execute on the opportunity.”
