Don’t listen to throw pillows and musicians that claim “home is where the heart is”, or “home is wherever I’m with you.” Home is a physical place where you can store your worldly possessions and have a place to sleep at night.
VivaReal, an online real estate marketplace for Latin America, announced a $15 million round of funding to significantly deepen its footprint on the continent. Although its major presence is in Brazil, the platform operates six separate marketplaces and listings in 20 countries.
The site is comparable to other real estate sites like Zillow, Trulia, and Craigslist. The real distinguishing feature is its focus on Brazil which has a booming real estate scene at the moment. Events like the World Cup and the Olympics have established Brazil has an international hot spot, not to mention emerging tech hub.
Competitors may be interested in entering Latin America, but it is not as easy as integrating with an existing property database. Unlike the US, Brazil does not have a centralized listings service. VivaReal has amassed its own repository of hundreds of thousands of properties and thus has a distinct advantage in this massive market.
VivaReal was founded in 2007 in the US and received its first investment, of an undisclosed amount, last year. The financing came from Valiant Capital Partners, as well as Kaszek Ventures and Monashees Capital.