RIO DE JANEIRO, BRAZIL – The deal, for an undisclosed amount, involves the purchase of shares and a capital increase and will grant the bank a 90% stake in the startup.
“The digital platform will allow us to accelerate the development of integrated real estate market solutions,” said in a statement the director of real estate business at Santander Brasil, Sandro Gamba.
The platform, created in 2018 and focused on the São Paulo capital, presents itself as a marketplace to digitize the process of buying houses and apartments using big data and artificial intelligence to help realtors. Now, it plans to expand across Brazil.
The announcement, at a vibrant moment in the country’s real estate market, reproduces a similar move by Santander Brasil years ago in the automotive sector with the purchase of vehicle trading website Webmotors.