Danish proptech startup focusing on long-term property rentals Proper has closed a $4.6 million seed round.
Led by byFounders, investors also include PreSeed Ventures, Prehype, Vaekstfonden, renowned architect Bjarke Ingels (BIG), and other private investors.
Proper is reporting that the funding will be used to further international expansion, with the ultimate goal of becoming the global go-to solutions for long-term property rentals.
Founded in 2017 by Morten Krarup and Jacob Funch, Proper has made strong inroads with Danish landlords and property management firms. The service automates day-to-day admin, payments, bookkeeping, and tenant communications. Proper counts over 3,500 contracts managed via their platform, accounting for a growth rate exceeding 200% in 2020.
“For long-term rentals operations are cumbersome and challenging. There’s no straightforward way to find tenants and build trust with them. Contracts are manually drafted, and there’s no streamlined way to collect rent from or communicate with tenants,” explains Proper co-founder Morten Krarup.
“Proper standardizes, simplifies, and automates these into a beautifully simple process, directly addressing the pain of administering long-term rentals.”
Looking forward, Proper is projecting the management of over 14,000 by the end of 2021.
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