Brazilian real estate startup UBlink is doubling down on augmented reality in an increasingly heated proptech (property tech) market.

“We went live in March of this year and are growing exponentially. The assets under our management exceed 2bn reais [US$381mn], even though the startup operates, for the time being, only in eight districts of São Paulo,” co-founder Arnaldo Curiati told BNamericas.

Rogério Santos and Curiati, two of UBlink's founding partners, have 30 years of experience in the traditional real estate market and spotted a business opportunity when technology started to become more common.

“The technology expertise we brought to the startup from Vânia Gomes, a founding partner who spent more than 25 years at IBM, having reached the position of vice president of Latin America,” said Curiati.

The company offers owners and brokers a 100% digital solution for the entire process, right up to the registration of the property in a notary public's office, he said. The company also bets on augmented reality. “All you have to do is point your cellphone at the surrounding buildings to identify if there are properties available and start a completely different experience during the virtual visit.”

Other parts of Latin America are not on UBlink's expansion radar. In the near future, the company intends to operate in Florida, where its operation is registered. According to Curiati, UBlink has financed itself with its own cash, but is negotiating funding rounds for the coming quarters.

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Dealmaking in Latin America, traditionally led by the tech sector, fell by both volume and total value between January and August, according to Transactional Track Record's latest monthly report.

Latin America saw 2,184 transactions in the first eight months, down 8% year-over-year. There were 1,152 M&As, 114 private equity deals, 699 in venture capital and 220 asset acquisition transactions. 

The total deals with disclosed values amounted to a combined US$69.7bn, down 34.1% over the same period 2021, said TTR.

Brazil led the region by deal volume, followed by Mexico and Chile. Colombia ranked fourth, followed by Argentina and lastly, Peru, among the top six regional M&A markets.

Source: Business News Americas / BN Americas - Chile