Real estate investment marketplace Propetly is expanding its team, ahead of launching its own proptech marketplace – Proverest – later this year.
Andrew Smith, head of UK for all Propetly and Proverest products and operations, told Peer2Peer Finance News that the two companies will work closely together, with Proverest supplying the data that informs the Propetly market.
“Proverest is effectively the machine learning that goes into Propetly, so they work very closely together,” Smith said.
“Propetly was built to create intelligent tools for ambitious developers, and the data that [Proverest is] pulling will hopefully help inform the Propetly marketplace to a massive extent and accelerate our vision.”
Smith added that he is currently hiring a number of sales people, including a head of sales who will work initially for the Propetly market and latterly on the Proverest side of the business.
Propetly is also working with “some very exciting partners”, said Smith, many of which were set up by the company’s interim managing director Brian Cartwright.
Earlier this year, Cartwright left his position at Propetly and moved to a newly-created role at Bank of Baroda. Smith has taken over his responsibilities.
“He leaves big shoes to fill,” said Smith.