PropertyFox, a digital real estate agency, has acquired its competitor Steeple, which, like her, is active in the area of renting and selling apartments online.
The amount of the transaction was not disclosed. This acquisition will enable the real estate company, founded in April 2016, to strengthen its platform team and offer its clients a wider choice of properties and residences.
“Steeple has a good reputation and pays attention to its customers and the services it provides. We believe that it will add substantial value to our platform, “said Crispin Inglis, co-founder of PropertyFox.
David de Waal, general manager of Steeple, indicated that these two real estate structures had complementary business models, but that in addition, the PropertyFox platform had robust systems and a certain notoriety in the sector of real estate in South Africa.
Recall that the mortgage financing provider SA Home Loans holds a 49% stake in the PropertyFox start-up since November 2017. It should also be noted that the most recent acquisition of a South African real estate company had took place in August 2018. At that time, Pam Golding Property, one of the largest real estate groups in South Africa, founded in 1976 bought the real estate start-up Eazi.com.