Flow, a South African prop-tech business, has announced that it has secured $4.5 million in a pre-Series A fundraising round. This takes the company's total investment to about $6 million. Futuregrowth Asset Management led the round, investing $2 million, and was joined by Endeavor Harvest Fund and serial entrepreneur Steven Heilbron. Other investors included Kalon Venture Partners, Vunani Fintech Fund, and Buffet Investments.
Flow's mission is to assist real estate developers and agents in growing their businesses via social media marketing. The fresh funds will be used to develop the company's B2B strategy, which will include putting Flow's social media-driven real estate marketing platform into international property websites and CRM systems. The cash will also be used to expand their current activities on Facebook and Instagram by adding social media sites such as TikTok and LinkedIn, as well as additional marketing channels such as out-of-home billboards.
"We share Daniel and Gil's ambition of bringing the property business into the twenty-first century and believe they have the knowledge and experience to make it happen," said Amrish Narrandes, head of private equity and venture capital at Futuregrowth Asset Management. "We're excited to be a member of a South African startup that's taking bold moves that will bring much-needed change to an important global sector."
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