Quinto Andar acquires Navent, a group of 6 real estate portals

O Fifth floor is the largest rental sales platform in Brazil, reaching more than 140.000 contacts in 50 cities across the country, and acquired, without revealed values, the Grupo navent, which owns a large conglomerate of real estate portals in six Latin American countries.

With this, the Brazilian startup that has been operating for just over 6 years is following its expansion plans, but the main focus is to start working on the Mexico, as informed by its investors in early 2021. Understand all the details of the transaction right now.

History of the Navent Group

Being on the market since 1999, the navent owns six real estate portals throughout Latin America. O navent came up in Argentina and the idea was originated from the job portal boomerang, with the demand for the sale and rent of houses and apartments growing.

In about 23 years of operation, two financial contributions were received: one from the TigerGlobal and another one from Riverwood Capital🇧🇷 CO navent is one of the largest in the real estate market within Latin America. With the purchase by Fifth floor, the Brazilian startup now owns the following portals:

• adeliver e Urbania, in Peru;
• buy alkyl, in Panama;
• propertyweb e Wimoveis in Brazil;
• buildings 24, In Mexico.
• Capital gain, in Ecuador;
• zoneprop, in Argentine;

Despite being part of the Group navent, the acquisition of the portal boomerang does not is within the purchase that was made by the Fifth floor. Remembering that the Tokko Broker Software, which develops applications for the real estate market, is also part of the navent. If we add up all the properties that are registered in the portals that are part of the group, more than 6 million places can be rented or purchased throughout the Latin America.

O propertyweb it is also one of the largest portals operating in Brazil, with monthly traffic of 8 million users. The solution also appeared at the beginning of the popularization of the internet, in 1999. Wimoveis it is smaller compared to the company that has been in the market for more than 20 years in Brazil, but it is also well known in the real estate market. Despite having different names, both companies belong to the navent.

The new purchase of the Fifth Floor

With the payment involving cash and shares of the Fifth floor, the new purchase is part of the expansion plans of the startup that started operating 6 years ago. The amounts and percentages passed on to the Group navent were not mentioned, but it is known that the main focus is precisely to offer all the solutions and support for those who are looking for a space to rent or buy permanently.

“The acquisition of Navent reinforces the strategy of creating the best real estate transaction platform we can offer to our clients. More recently, this has been about bringing real estate companies into our ecosystem, which is something that the business also reinforces.”

Gabriel Braga, CEO and co-founder of QuintoAndarin an interview with EXAM Invest

As it owns real estate portals throughout Latin America, the owners of Fifth floor know that the main focus of navent is to generate contacts for real estate companies, so as the Brazilian startup also does this, it's time to join efforts so that profits are even greater.

The purchase is also focused so that the founders can understand more about the international market for future entries. Currently, the Fifth floor operates only in Brazil, but there are expansion plans in progress.

Startup focuses on operating in Mexico

Earlier this year, the Fifth floor revealed his plans to start working in Mexico. Investments were raised, totaling US$ 300 million (R$ 1,7 billion), in order to achieve this objective. THE Series e, as the Quinto Andar investment round was called, has three objectives in total:

• Expand the already consolidated property rental operation;
• Accelerate growth in buying and selling;
• To finance the development of an international expansion.

Thus, sometime in 2022, we can expect the same technologies as Fifth Walkr in Mexico, this happening independently. In November, the Brazilian startup also announced that it will be opening a technology office in Portugal to hire talent from other countries.

How are the operations?

even with the purchase do Navent Group by the Fifth floor, there will be a merger of all the companies, with everything proceeding separately. The six real estate portals are part of the conglomerate of Fifth floor, but the same ones (at least for now) are not necessarily connected. When it starts working in other countries, the Fifth floor still want to do it independently and without being behind another company.

All real estate companies that have a registration in the propertyweb e Wimoveis can choose if they want to carry out all the work in the current way or start using Quinto Andar solutions. One of the solutions that help people the most is the ATTA Franchising, which works with real estate credit and often does not require a guarantor, if the buyer of the house or apartment has a good financial history.

O Fifth floor also owns the Velo, a company that offers credit to those who want to hire rent. The acquisition took place in August of this year and all customers using the platform that became famous precisely for offering low bureaucracy. How do you think the Fifth floor will act from now on? tell us Comment!

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Sources: Examination e Folha de São Paulo