Blueground, a New York-based proptech firm, is heading the investment in Tabas, a Brazilian real estate technology business that recently concluded a $14 million Series A round.
It is Blueground’s first investment in the rapidly-growing proptech space, and the company will become a strategic investor in Tabas while gaining exposure to the Latin American market after securing $180 million in Series C funding in September to accelerate growth and meet the increasing demand for flexible rentals.
As a result of the investment, Alex Chatzieleftheriou, co-founder and CEO of Blueground, will join Tabas’ board of directors.
Tabas, situated in So Paulo and founded in early 2020, aims to define the future of living in the Latin American market by renting out flats to millennials and business professionals for flexible stays of at least one month.
Tabas will use the incoming investment to increase its portfolio in Brazil to 1,200 homes by the end of 2022, from 360 apartments in So Paulo and Rio de Janeiro.
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