PropTech Group Posts Impressive Financial Year 21 Results

August 31, 2021
Share this Post: 

Doubling up on its news today, in addition to announcing a new payments joint venture, the ASX-listed property technology company PropTech Group released its results for FY21, highlights of which include:

  • Total revenue of A$11.6m - including 8 months of the legacy business Real Estate Investar
  • Underlying EBITDA of A$1.9m at a 17% margin
  • Annualised recurring revenue of A$12.4m, up 25% from December 2020

In a statement, CEO Joe Hanna said:

“Financial year 2020 was a transformative one for the PropTech Group. Since re-listing in November 2020 PropTech Group has made several strategic acquisitions and extended our leading market share of real estate agencies using our CRM SaaS products in Australia and New Zealand.

“We have doubled our team since re-listing in November growing from 51 to 103 as of June 30 with a strong focus on expanding the product and technology teams along with sales and marketing personnel. Our newly formed centralised business development, account management and marketing teams are working closely with our customers to help them navigate the PropTech landscape utilising best in breed technology to help streamline their business and maximise profitability."

Co-founded by Australian industry figure Simon Baker in 2006 under the name Real Estate Investar, the newly formed PropTech Group relisted on the Australian Stock Exchange in October last year after buying out leading sales CRM products MyDesktop and VaultRE.

In doing so the PropTech Group raised some $10.6m which it has used to fuel both organic and M&A driven growth.

The Melbourne-headquartered firm went on to acquire real estate web design platform Website Blue in February as well as full-service CRM software H1 later in the year. Since the group’s last annual report there have also been important deals signed with the likes of H1’s previous owner Harcourts as well as with Australia’s leading real estate franchise Ray White Group.

All of this has lead to a stellar return to the ASX where since re-listing in November at 25 cents PropTech Group’s stock has risen significantly, hitting highs of 88 cents in June and trading at 59 cents at the time of writing.

The Group has achieved a market share of 40% of real estate agencies in Australia using at least one of its products and according to Hanna will be looking to drive growth “through a combination of both organic and inorganic initiatives”.

August 31, 2021
Edmund got to know the world of portals and marketplaces working at Mitula Group (which became Lifull Connect after the buyout in 2018). He worked directly with hundreds of portals across the world in his role in the content department for three and a half years before transferring to the SEO department to understand the inner workings of listings sites. He joined Online Marketplaces as Head of Content in March 2020.

Subscribe to our mailing list to get news updates!

Enter your email address and get updates from Online Marketplaces.

Related News

Funda
Dutch Portal Funda Acquires Commercial Player RealNext

Dutch commercial property platform RealNext has been acquired by NVM in a move that will see its assets incorporated into...

Read More
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
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