South African Proptech Startup, Propsource, Secure Funding to Facilitate Residential Offering

South African Proptech Startup, Propsource, Secure Funding to Facilitate Residential Offering

PropSource, a South African prop-tech business, has raised an undisclosed amount of funds to expand its residential product line. Commercial real estate agency PropSource collaborates closely with listed nationals, or reits, to fill openings in their portfolios of properties. The startup’s property database, which contains over 3,500 vacancies, was constructed using technology.

The business received undisclosed equity capital earlier this year from an unidentified investor to develop a home product offering, which is now open to the general public. Percival van der Walt, partner and director of PropSource, stated that his company has been working on establishing a turn-key property administration, sales, and lead generation system.

“We aim to bridge the gap between property and technology once and for all for all landlords, tenants, and of course, most importantly to us, our agents.”

Founded in 2019, PropSource Consulting provides a professional streamlined recruitment service to both clients and candidates within the property sector. We recruit across all levels, from graduate hires through to board level appointments. First and foremost, we are consultants and our internal structure allows us the flexibility to offer a personal and in-depth service.

PropSource aims to create longstanding partnerships with all stakeholders in order to truly understand their desires, challenges and goals. The startup operates throughout the UK and specialize in the following areas: Town Planning; Environment (EIA); Infrastructure; Property Management; Lettings; Stakeholder Engagement; Student Accommodation; Socio-Economics; Build to Rent; Valuations and Business Support.

The startup’s system first served as a lead generator for businesses but swiftly advanced to the point where it can now give business agents precise probability matches of properties that meet their clients’ criteria.

Van der Walt claimed that because the process is entirely computerized, brokers are not even required to do their own property searches. “The market response has been extremely good, and by the end of 2022, we want to have more than 100 agents using our system.”