Total
0
Shares
Frontier Digital Ventures (ASX:FDV) - Founder and CEO, Shaun DiGregorio
Founder and CEO, Shaun DiGregorio
Source: Property Portals Watch
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Frontier Digital Ventures’ (FDV) investee business, InfoCasas, has partnered with Brazilian digital real estate brokerage platform, AoCubo
  • InfoCasas will provide its technology to AuCubo and facilitate expansion to other cities across Brazil
  • In return, InfoCasas will receive a three-year option to purchase a 20 per cent interest in AoCubo based on its current valuation
  • The agreement represents a significant opportunity for InfoCasa to expand into Brazil
  • Frontier ended the day in the grey to trade for $1.08

Frontier Digital Ventures (FDV) has announced its investee business, InfoCasas, has partnered with Brazilian digital real estate brokerage platform, AoCubo.

InfoCasas is considered a leading online real estate marketplace that is based in Uruguay, Paraguay and Bolivia. However, it is emerging into the real estate market in Peru.

Founded in 2017, AoCubo aims to digitalise property transactions, evaluate and pass leads to algorithmically matched agents through its iBroker platform which is similar to Uber.

“AoCubo’s iBroker platform has the potential to disrupt the current real estate brokerage model in Brazil,” InfoCasas CEO Ricardo Frechou said.

Under the partnership, InfoCasas will provide its technology to AoCubo and facilitate expansion to other cities across Brazil.

In exchange, AoCubo will issue InfoCasas a Simple Agreement for Future Equity (SAFE) Note. This gives InfoCasas a three-year option to purchase a 20 per cent interest in AoCubo, based on its current pre-money valuation of US$8.15 million (roughly A$11.2 million).

The agreement presents an opportunity for InfoCasa to expand into Brazil.

“This partnership has created a low-risk opportunity for expansion into Brazil, a large and attractive market, as well as accelerate expansion into new markets. We are confident our technology can accelerate AoCubo’s growth and we look forward to working together in the future,” Ricardo added.

Frontier Digital initially invested in InfoCasa in 2017 and now has a controlling 52 per cent interest in the company after increasing its shareholding last December.

Frontier Digital CEO, Shaun Di Gregorio, said InfoCasas has strengthed its real estate portal in South America since the company first invested in the company in 2017.

“This partnership further strengthens InfoCasas’ growth profile and market position and presents a compelling opportunity to expand in Brazil,” he said.

“This opportunity is attractive for InfoCasas and its shareholders on a standalone basis, but we believe the partnership also has broader applicability across Frontier’s portfolio,” he added.

At market close, Frontier closed in the grey and trading for $1.08.

FDV by the numbers
More From The Market Herald

" Value of residential dwellings passes $9 trillion: ABS

Data issued today by the Australian Bureau of Statistics (ABS) shows the total value of Australia’s 10.7 million residential residences increased by $487...
Newmark Property (ASX:NPR) - Joint Managing Directors, Simon T Morris (left) and Chris Langford (right)

" Newmark Property REIT (ASX:NPR) debuts on the ASX

Newmark Property REIT (NPR) has debuted on the ASX after raising $128.3 million in an initial public offering (IPO).

" BWP Trust (ASX:BWP) appoints Danielle Carter to board

BWP Trust (BWP) has appointed Danielle Carter as Non-Executive External Director.

" Ingenia Communities (ASX:INA) purchases portfolios for $441m

Ingenia Communities Group (INA) has acquired additional lifestyle community portfolios for $441 million.