Bailador Technology Investments (ASX: BTI) has backed the AI-powered property investment platform PropHero with a $12.5 million stake, leading a $25 million Series A raise that signals serious ambitions for the fast-growing PropTech firm.
In a world where buying an investment property often involves drowning in spreadsheets, real estate agents, and conflicting advice from well-meaning relatives, PropHero aims to cut through the noise with artificial intelligence. And with a revenue growth rate north of 200% per year, investors seem to think it’s on to something.
A Digital ‘Buy and Hold’ Strategy
Founded in 2021, PropHero is an AI-enabled platform that helps individuals find, buy, and manage investment properties—all without leaving their couch. By crunching data from over 100 sources, the platform delivers tailored property recommendations for a fixed fee, removing the usual opacity (and commission-driven bias) of traditional real estate advisory.
PropHero’s digital ecosystem extends beyond just finding the right property. The platform connects investors with a curated network of mortgage brokers, conveyancers, property managers, and renovation specialists—essentially a one-stop shop for buy-and-hold investors who don’t have the time (or patience) to wrangle the moving parts themselves.
Since its launch, the company has served over 2,000 customers across Australia, Spain, Indonesia, and Ireland, and has already racked up a run rate revenue exceeding $35 million. Not bad for a start-up barely out of its training wheels.
And if bragging rights count for anything, the company placed #2 in the 2024 Deloitte Tech Fast 50, an annual ranking of Australia’s fastest-growing technology firms.
Bailador’s Winning Hand
Bailador’s investment—alongside a star-studded roster of institutional backers including Fifth Wall, Samaipata, Opera Tech Ventures, AfterWork Ventures, and Jelix Ventures—is a bet on PropHero’s ability to scale globally.
Bailador co-founder and managing partner David Kirk sees it as a rare opportunity in a vast but outdated asset class.
"Property is a huge global asset class that has been underserved by digital transaction solutions. PropHero provides a world-leading solution for investors, demonstrated by very high growth, word-of-mouth customer acquisition, and a high proportion of customers returning to purchase multiple properties," Kirk said.
David Kirk
For its part, PropHero is thinking big, with co-founders and co-CEOs Mickael Roger and Pablo Gil Brusola eyeing a future where the platform is the go-to hub for digital property investment.
"We are excited to be partnering with Bailador, who share our vision of the future of property investment. This capital raise enables us to further invest in our AI capabilities and product roadmap to better serve our customers. This is just the beginning for PropHero as we look to continue expanding internationally," they said.
As part of the investment, Kirk will take a seat on the PropHero board—a strong indicator that Bailador sees this as more than just a casual punt.
AI Meets Bricks and Mortar
PropTech has become one of the hottest segments in venture capital, as investors bet on platforms that can inject transparency, efficiency, and intelligence into a historically slow-moving industry.
While property investment remains one of the most popular wealth-building strategies, the process is often mired in complexity. PropHero’s AI-driven approach aims to change that, offering investors data-backed decision-making tools in an industry long dominated by gut feel and glossy brochures.
Bailador, which has a track record of backing tech growth stories like SiteMinder (ASX: SDR) and Straker Translations (ASX: STG), clearly sees PropHero as a company with global potential.
What’s Next?
With fresh capital to deploy, PropHero is set to double down on product development, expand its partner marketplace, and push further into international markets.
For Bailador investors, the next big test will be whether PropHero can sustain its rapid growth trajectory while maintaining strong unit economics—no small feat in a capital-intensive industry like real estate.
Bailador has promised more insights into the investment in its February 2025 Shareholder Update, but for now, the message is clear: it’s backing PropHero to be more than just another PropTech hopeful.
And if the numbers keep tracking the way they have been, it might just be on to something big.
