The QuintoAndar real estate rental and sale platform announced this Thursday (23) the purchase of the Argentine holding Navent, owner of some of the main real estate portals in Latin America.
The transaction, the amount of which was not disclosed, includes only the group’s real estate operations, which also has a job classifieds division.
Navent is present in Argentina, Ecuador, Mexico, Panama and Peru. In Brazil, she owns companies like Imovelweb, Wimoveis and Union Softwares, which are now part of QuintoAndar.
According to Gabriel Braga, executive director of QuintoAndar, the companies will continue to operate independently in this first moment.
“We’re not exactly going to start trading the next day in other countries because of this transaction, but it speeds up our understanding of the different markets, speeds up our credibility,” he says.
The acquisition of the holding marks another step towards the internationalization of QuintoAndar, which does not yet have operations outside Brazil.
In May this year, after raising US$ 300 million (R$ 1.7 billion) in a round of investments, the company said it was interested in expanding to Mexico. Months later, in November, it announced the opening of a technology office in Lisbon.
“Navent has leading brands in each of the countries that we hope to reach one day”, says Braga.
In addition to internationalization, the purchase of the Argentine group continues a process of expansion of the real estate ecosystem. According to Braga, QuintoAndar has started to make some partnerships, allowing companies to advertise properties on the company’s portal, which generates offers for both sides.
“With the acquisition of Navent, this expands much more. They work with thousands of real estate agencies in Brazil and other countries in Latin America and have some of the most accessed portals”, he explains.
The purchase of the holding is not the first that the company has made in 2021. In March of this year, QuintoAndar acquired Casa Mineira, a real estate and classifieds portal in Belo Horizonte.
In September, it was the turn of the Atta mortgage credit platform to be incorporated into the business. Three months later, the company expanded its portfolio with startup Velo, which specializes in digital rental guarantees.
According to the company, the acquisitions are part of a movement to invest in digital solutions that support the work of real estate companies, enabling more liquidity and transactions.
Gabriel Braga says that the merger with Navent comes to add efforts. The idea is for the holding to continue operating its services without interruption, but having access to more resources in technology to drive new tools and solutions.
“Navent has thousands of real estate companies generating demand and that will now be able to count on a larger and more complete product menu, which helps in all stages of the process”, he says.
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