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.
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