Proptech startup Flow, which last year raised R20 million (about $1 million) in a seed round, is set to close a second seed round at the end of this month, the Johannesburg based company’s CEO Gil Sperling has revealed.
He said the startup has netted commitments from the two investors, namely Kalon Venture Partners and CRE, a pan-African investor, both of which took part in the R20-million (about $1 million) round that the startup announced last year.
CRE has a diverse portfolio, which includes SA startups Yoco and SweepSouth, as well as US startup Flutterwave.
Flow CEO Gil Sperling said the round is expected to be similar in size to the R20 million (about $1 million) the proptech raised in 2019
While Sperling said the current round is already “over subscribed”, he declined to reveal the targeted amount that the startup is looking to close the round at, but conceded that it would come in at about the same figure as the 2019 round.
Flow’s app allows tenants to get rewarded for things such as paying their rent on time and looking after their homes. Tenants get points every month that they can then use to access rewards from providers such as Superbalist, Weylandts, SweepSouth, OneCart, plus a selection of airtime and electricity providers.
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