Brazilian Unicorn QuintoAndar Acquires Mortgage Company ATTA Franchising

August 5, 2021
Share this Post: 

Brazilian end-to-end real estate marketplace company QuintoAndar has announced that it has agreed to acquire local real estate credit firm ATTA Franchising for an undisclosed sum.

Brazilian finance specialist ATTA works with 100+ franchisees who offer financial services and products including mortgages and home equity solutions through real estate agents and consultants. According to the Brazilian press, the company will continue to be lead by CEO Renato Caporinno with no changes to franchisees.

QuintoAndar expanded from rentals to sales in 2020 and has reportedly entered into the purchase agreement for ATTA to speed up and improve adjacent financial offerings for its users.

In a statement surrounding the deal, QuintoAndar co-founder and CEO Gabriel Braga said:

"We are also going to increase our positive impact on the ecosystem, as we are going to invest to accelerate and expand the value that is generated for partners, real estate companies and, above all, for end customers" translated from Portuguese.

The company has gone from strength to strength since its foundation in 2012 and in May raised an additional $300 million in Series E funding at a stratospheric valuation of $4 billion putting it well in the top category of real estate classifieds and marketplace businesses by implied market cap.

In securing a deal for ATTA Franchising, QuintoAndar joins an ever-expanding list of companies in the industry that have either moved to offer mortgages themselves (Zillow) or have bought their way into the business in some way. Both Australian market leader REA Group and British #2 portal Zoopla have recently signed deals to acquire sizeable mortgage brokering companies.

August 5, 2021
Since March 2020 Edmund's job has been to read about, write about, collect data on, analyse and generally know about real estate marketplaces and the companies that run them. Before that he worked at the aggregator Mitula Group (which became Lifull Connect) for five years.

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Investment And Funding Roundup 19 July 2024
Investment and Funding Roundup: Lhoopa, StudentTenant,

We've spotted three significant funding and investment movements this week, from an $80 million round in South Asia and two...

Read More
Product Roundup 19 July 2024
Product Roundup: SeLoger, SMG, OnTheMarket, Zoopla, BCG, ViewIT

We've spotted six interesting stories around the world in this week's Product Roundup, including some healthy competition in the UK....

Read More
Costar And
Move Inc. Files Injunction Request Against Unimpressed CoStar

Move Inc. has filed a motion for a preliminary injunction against CoStar and its former employee James Kaminsky from "any...

Read More
Carousell Losses Shrank 40% in 2023 as Recommerce Business Grew

The Southeast Asian e-commerce and classifieds operator Carousell saw revenue rise by 40.5% year-on-year in 2023 according to newly released...

Read More

Editor's Pick