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QuintoAndar is a Brazilian proptech company that operates a platform for renting and selling residential properties. Inmuebles24 is a Mexican real estate portal that provides listings for sale and rent. In 2022, QuintoAndar acquired Inmuebles24 to expand its presence in Mexico.

QuintoAndar

QuintoAndar was founded in 2013 by Gabriel Braga and Andre Penha. The company's platform allows users to search for and rent apartments directly from the landlord, without the need for a real estate agent. QuintoAndar also offers a number of other services, such as property management, insurance, and financing.

Inmuebles24

Inmuebles24 was founded in 2001 and is one of the leading real estate portals in Mexico. The company's website and mobile app provide users with access to a wide range of property listings for sale and rent. Inmuebles24 also offers a number of other services, such as property valuations, market research, and advertising.

Acquisition of Inmuebles24

In February 2022, QuintoAndar announced that it had acquired Inmuebles24 for an undisclosed sum. The acquisition was part of QuintoAndar's strategy to expand its presence in Mexico, where it already operates in Mexico City and Guadalajara.

Combined Company

The combined company has a presence in Brazil and Mexico, with over 100,000 active listings and a team of over 2,000 employees. The company is backed by a number of investors, including SoftBank, Tiger Global Management, and General Atlantic.

Conclusion

The acquisition of Inmuebles24 by QuintoAndar is a significant development in the Latin American proptech market. The combined company is now one of the largest proptech companies in the region, with a strong presence in both Brazil and Mexico. The company is well-positioned to continue to grow and expand its range of services in the years to come.