British online estate agent expands to Canada

British online estate agent expands to Canada

British online estate agent expands to Canada

British online-exclusive estate agent Purplebricks has announced its purchase of Canadian real estate company DuProprio, along with its subsidiary ComFree.

The acquisition – which represents Purpulebricks’s entry into the Canadian market – is valued at $50.87 million. The deal is expected to be completed by July 6, the Financial Times reported.

This is just the latest in a spate of new entrants making tracks in the Canadian real estate sectors over the past few months.

Last month, commercial real estate information firm Reonomy announced that it was looking to expand to Canada and Western Europe, fresh from securing an additional $30 million in its then latest round of fundraising.

The platform currently maintains public data on more than 50 million commercial properties, which users can search with over 300 filters, notably ownership information. Reonomy operates in partnership with more than two dozen firms, including Avison Young and Cushman & Wakefield.

Earlier in May, San Francisco-based fintech start-up Plaid announced the first phase of its international expansion in Canada, making itself available in the country for the first time.

Plaid touted its compatibility with both U.S. and Canadian currencies, a feature intended to both support current clients and attract new Canadian fintech companies. Around 2 years ago, the firm acquired $44 million in funding from Goldman Sachs Investment Partners.

 

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