Brazilian startup worth more than US $ 1 billion – Business

The Brazilian startup market has one more unicorn, that is, a company valued at more than US $ 1 billion: this is the Fifth floor, which serves as an intermediary between tenants and landlords without requiring a guarantor, surety bond or collateral. Nubank, 99, PagSeguro and Movile (owner of iFood) also surpassed this market value benchmark.

Fifth floor

This Tuesday (10), QuintoAndar announced the raising of US $ 250 million in its most recent investment round, led by SoftBank. This Japanese conglomerate owns ARM, which licenses processor designs for Apple, Qualcomm and Samsung; and Boston Dynamics, which creates quadrupedal and humanoid robots.

In a statement, QuintoAndar states that it will use these resources to “continue to accelerate its growth and gain geographic scale, in addition to expanding its partnership project with real estate companies and strengthening the leadership team”.

Nubank is worth more than $ 10 billion, while UOL’s PagSeguro is valued at nearly $ 15 billion on the NYSE (New York Stock Exchange). The 99 was acquired by Chinese Didi Chuxing for $ 1 billion. And Movile, owner of iFood, received a round of investment last year that valued it at $ 1 billion.

As the leaf, there are more unicorns in Brazil: Stone (fintech), Gympass (gym benefits) and Loggi (logistics) are worth more than US $ 1 billion. Grow, a merger between Grin and Yellow, is believed to reach this market value soon.

QuintoAndar does not charge surety or collateral

André Penha and Gabriel Braga

André Penha and Gabriel Braga, founders of QuintoAndar

QuintoAndar was founded in 2013 and operates in 28 cities, such as São Paulo, Rio de Janeiro, Belo Horizonte, Brasília, Porto Alegre and Curitiba. In the last nine months, the startup has tripled sales, closing more than 4,500 new contracts per month.

One of QuintoAndar’s differences from traditional real estate is in the platform: the company offers a professional photographer to obtain the images of the ad, in addition to showing a 360 ° tour on the website and application. The owner does not pay for the ad; if the property is rented, the brokerage (first rent) and administration fee (6.9% to 8% per month) are charged.

The tenant does not need to pay bail or collateral. Through the app, you can schedule a time to visit the property (accompanied by a broker), send a proposal to the owner of the property, and sign the contract electronically, without having to go to the registry office.

Service is provided by WhatsApp, e-mail or phone. And by contract, the company always pays the rent on the agreed date, even if the tenant is late. In addition to direct rent, she is partnering with traditional real estate.

According to QuintoAndar, their satisfaction rate is 70, on a scale that varies between -100 and 100. This is the NPS (Net Promoter Score), which corresponds to the percentage of “promoter” customers less the percentage of “detractors” .

The NPS is calculated as follows: the company asks “from 0 to 10, how likely are you to recommend us to a friend?”. It then divides users into promoters (grades 9-10), liabilities (7 to 8) and detractors (0 to 6).

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