Proper raises $9M in Series A from QED Investors, others

SaaS News -Accounting-firm-Proper-banks-$9M-Series-A-to-automate-property-management(source: SaaS Industry)
At a Glance

Proper raises $9M in Series A funding from QED Investors to develop its product, build a customer-facing platform

Proper, a property accounting services provider for the real estate industry, has announced the raise of $9M in Series A from QED Investors, with participation from our partners at MetaProp, Expa, and Bling Capital. 

The last funding for Proper came in May 2020, where it raised $4.8 million in a seed round. With the close of Series A, its total funding raised has crossed $13.8 million, as per Crunchbase. Taking the announcement to its LinkedIn handle, Proper thanked its investors and partners and welcomed Matthew Risley to its Board. 

Mark Rojas, founder and CEO of Proper, in a statement to TechCrunch, enunciated that the space of proptech always had problems to solve, especially with respect to executing accounting operations every month. 

Property managers don’t often come from an accounting background — usually they have a real estate license, so that lack of expertise can put them in a position where they can’t scale their portfolio, or if they try to, things break,

Mark Rojas, founder and CEO of Proper

Mr. Rojas told TechCrunch that automation of accounting processes in the real estate industry has been neglected and only a few startups like Proper are looking to provide redressal. Proptech aims to address the issues in accounting management via its tech-enabled services. With proprietary automation tools to mitigate repetitive tasks, the startup looks to efficiently execute end-to-end accounting services for even complex portfolios. 

With the proceeds from the funding, Proper would focus on its operations, developing its product, building a new customer-facing platform and in increasing its headcount across business functions. 

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