Pulppo, a Mexican portal, has been chosen as a recipient of funding from Y Combinator, an American technology startup accelerator that has helped launch businesses such as Airbnb, Stripe, DoorDash and Dropbox.
The business, founded February 2022, is dedicated to the luxury property market in Mexico, and will receive funding anywhere from $125,000 to $500,000 from Y Combinator.
Pulppo was founded by Argentinian real estate and technology entrepreneurs Matías Gath and Agustín Iglesias. It is the only proptech of its kind operating in Mexico and Latin America—with a suite of 11 technological tools that streamline the selling process.
Agustín Iglesias, co-founder and COO at Pulppo, said:
"Our proptech is the only one of its kind that gives brokers a valuable tool, including CRM, marketing, legal advice and more. The human component is essential in the process of buying and selling a house—and we have perfected that mix with a portal that is transparent, agile and user-friendly.
"We want to be the best luxury real estate agency, which is why we only invite the best in the industry, and we give these agents all the support and tools to multiply their results and differentiate themselves from the rest. It is a business model in which everyone wins”.
Pulppo already has more than 100 associated exclusive, high profile brokers and more than 1,000 properties on its site, with a waiting list for new partnerships.
Pulppo already has an active inventory of $530m, and the team is projecting $2m in commissions generated by the end of 2022.
Gath and Iglesias have already distanced themselves from further investment, and say they are instead focusing on consolidating their position in the luxury real estate sector in Mexico. They hope to operate in seven cities by the end of the year.