Pi Labs raises £2.5 million from Revcap to put toward worldwide expansion

March 21, 2020
Share this Post: 

Revcap, a real estate fund manager based within Europe, announced it will be investing £2.5 million into Pi Labs, a UK-based proptech company to help it expand globally. 

The funding will see Revcap place founding partner Andrew Pettit on Pi Labs’ board.

Early last month, Pi Labs announced it raised upwards of £17.5 million toward its third fund. Over the next five years, the venture capital fund plans to double the number of firms it has invested in, bringing the total in its portfolio to 100.

As part of this, the firm is focused on expanding globally and hopes to add six to 10 new professional investors to its team. The firm is preparing to announce a series of new investments later this month as part of its business accelerator Pi Labs. The firm plans 10 new investments this year as well as follow-on funding for firms already in its portfolio.

“Revcap’s commitment to Pi Labs is not only an endorsement in our future but is also indicative of the wider industry’s prioritisation of proptech as it continues to become increasingly important across every facet of the real estate value chain,” said Pi Labs Founder and Chief Executive Faisal Butt.

“Pi Labs is a market-leading VC in the proptech space with a proven track record, making the business a great strategic partner for Revcap as we engage with this emerging sector,” said Andrew Pettit, Founding Partner at Revcap. 

Read more here

March 21, 2020

Subscribe to our mailing list to get news updates!

Enter your email address and get updates from Online Marketplaces.

Related News

Zumper Movoto Deal
US Portal Operators OJO Labs and Zumper Sign Listings Deal

The US real estate portal operator OJO Labs has announced that it has signed a listings partnership deal with rental...

Read More
Women In Tech Rea And Zoopla
REA Group and Zoopla Backing Women in Tech Initiatives

Both leading Australian portal operator REA Group and British property portal Zoopla have today announced measures to back women in...

Read More
Idealista Apartments Barcelona
Idealista Wins Legal Fight Over Responsibility of Listings Content in Barcelona

Authorities in the Spanish region of Cataluña have closed the cases against Idealista which could have seen the portal company...

Read More
Alma Media House Symmetry
Alma Media Q3 Figures Show a Healthy Company as Stock Trades at Record High

Alma Media, the operator of Finland's two largest real estate marketplaces, has released figures from its Q3 that show record...

Read More

Popular News