Plentific secures £24.9m in Series B funding led by AO Proptech and Target Global to scale operations.
The Series B round was led by AO Proptech and Target Global with backing from Round Hill Ventures.
Plentific operates a cloud-based platform for property management that streamlines maintenance operations and connects landlords with service providers. The company serves major residential and commercial property owners across the UK, Germany, and the US.
Plentific has secured £24.9m in Series B funding to scale its operations across Europe, the UK, and the US. The investment round was led by AO Proptech, with participation from Target Global and existing backer Round Hill Ventures.
Founded in 2013, the company offers an end-to-end property operations platform designed to reduce maintenance costs and improve tenant experiences. The fresh capital will support product development, sectoral expansion, and international growth into commercial real estate and the US multi-family market.
From the founder
"It’s a massive market we operate in with very old systems in place. There are long-standing structural barriers that housing companies have to overcome in order to deliver a good tenant experience. By digitising the supply chain we’re creating a larger, more dynamic market of locally-available tradespeople and removing unnecessary manual processes, significantly improving the tenant or leaseholder experience."
Cem Savas
CEO and co-founder at Plentific
Investor perspective
"We are thrilled to back Plentific’s ambition to transform, improve and digitise property management, for the benefit of both tenants and landlords. It is becoming harder than ever for property companies to deliver an optimal tenant experience. Budgets are stretched, compliance concerns are growing and processes are often analogue at best. Plentific’s one-platform solution is already helping social housing companies to overcome these challenges and we have initiated a rollout of Plentific into over 90,000 units in phases, across our strategic portfolio globally with thrilling results so far. Our mission at AO is not only to transform the real estate industry, but also to improve the overall quality of life of tenants and local communities globally. Plentific allows us to do exactly that."
Gregory Dewerpe
founder, A/O PropTech
Use of funds
- 01Continue product development
- 02Expand into international markets
Investors
Categories
About the company
Plentific
Plentific provides a cloud-based platform that digitises property management and maintenance operations.