Flat.mx Becomes Clau.com as it Completes Journey from iBuyer to Portal

June 14, 2024
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The Mexican PropTech company formerly known as Flat.mx is now Clau Group, a suite of services for buyers and agents.

Flat.mx was founded as a pure iBuyer back in 2019 by Victor Noguera and Bernardo Cordero. The company initially grew quickly and attracted funding from PropTech luminaries such as OpenDoor founder Eric Wu, Divvy Homes co-founder Brian Ma and Flyhomes co-founder Tushar Garg before raising a $25m Series A in 2021.

Since then Flat, like many of its US and European counterparts, has pivoted away from iBuying into a variety of services around the buying and selling of homes in the antiquated Mexican market.

The company's latest iteration sees a repositioning of resources around a traditional real estate portal, Clau.com. The portal will operate a tiered subscription model with the company aiming to give agents a return on investment four times greater than the competition. Agent customers will get a dedicated account manager and access to an MLS-type system where they can gain more listings and collaborate on deals.

Currently, Clau.com has around 80,000 listings with plans to increase the coverage to around 200,000 verified listings over time. The portal will compete with Lifull-owned Lamudi and incumbent market leader Inmuebles24 which is owned by Brazilian PropTech Quinto Andar (Inmuebles24 currently has more than 280,000s sale listings).

The group will also operate Intelimetrica, a data intelligence product, and Hipoteca Genial, a mortgage brokerage acquired for an undisclosed sum in September 2023. The company founders told local media outlet Centrourbano that they have plans to build out more products over time.

"We want that when a person is looking to buy or sell a property, we are the first option that comes to mind. Therefore, we will continue to invest in technology, constantly improving our platform and expanding our range of services to ensure that our users have the best technological tools and thus exceed their expectations," said co-founder Victor Noguera

June 14, 2024
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.

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