On September 30, 2020, Properly completed its $100 million financing round led by Silicon Valley Bank and i80 Group. The credit facility will allow Properly to purchase homes from its customers, a capital heavy expense and key aspect to the company’s offering. The offering was made through a warehouse facility, where loans are provided to mortgage lenders and borrowers can access the capital when it is needed to purchase a property.
Properly is a Canadian tech-enabled real estate brokerage transforming the home buying and selling experience as the only service in Canada that helps homeowners to buy before they sell. Properly launched in 2018 with the goal of making real estate customer centric. The company is headquartered in Toronto.
Osler, Hoskin & Harcourt LLP advised Properly with a team consisting of Richard Borins, Marta Rochkin and Jasmyn Lee (Financial Services).