Quinto Andar to disrupt the Brazilian rental market even more

January 14, 2019
Share this Post: 

Gabriel Braga has some new pioneering business opportunities planned, like the development of a national market for new rental properties in Brazil. Braga is most known for his start up Quinto Andar, which simplifies the renting process for tenants and landlords, alike. His new ventures will continue this train of innovation for the real estate sector of his country.

The company founded by Braga and André Penha in 2012 with the mission to connect property owners and renters online raised 250 million reais ($67 million) in a funding round led by General Atlantic in November and has an estimated market value of 1.1 billion reais ($298 million).

To manage the pre-contract rental processes - which include 86,000 monthly visits to the properties the startup handles - and the subsequent administration of real estate across 15 Brazilian cities, the firm employs 570 staff based at WeWork's coworking space on Avenida Paulista in central São Paulo.

Quinto Andar claims to reduce the time it takes to rent a property of one month to three days on average. This is due to the automation of processes such as the scheduling of visits via the app, digital signature of rental contracts and the replacement of guarantors and deposits with the firm's own guarantee for clients with a good credit score (insured by an undisclosed third party).

Creating a new market

Quinto Andar's  impact on the real estate market goes beyond simplification of processes that tend to be quite painful. This is due to the massive amount of insight the startup has managed to gather during its existence.

"We understood that renting is much more compatible with the flexibility and mobility that people want. At the same time, the rental process is still laborious and inefficient to enable that kind of lifestyle," Braga stated.

Read more here

Join us in Bangkok the 19th to the 21st of March for the Property Portal Watch Conference.

Property Portal Watch Bangkok Conference 2019, March 19-21

Read more

1 2 3 69
January 14, 2019

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

Shutterstock 1932382865
$13 Billion Adevinta Takeover Deal To Go Ahead After 11th Hour Drama

The acquisition bid made by Aurelia Bidco for the Oslo-listed online marketplace operator Adevinta has finally reached the approval threshold...

Read More
Shutterstock 2245599643
Zillow Adds Individual Room Listings to Its Portal

The U.S. real estate portal Zillow has announced the addition of individual room for rent listings to its portal. The...

Read More
Blank 705 X 430 5
Immowelt's German Parent Company Rebranded to 'AVIV Germany'

The local parent company of the German real estate portal Immowelt has changed its name to 'AVIV Germany'. Immowelt is...

Read More
Untitled Design 15
REA Group Sees Strong Domestic Growth in HY1 Results

The Australian real estate marketplace operator REA Group has released its results for the first half of its 2024 financial...

Read More