Happy Wednesday!
For those who are new, this series is dedicated to early stage startups that are under the radar – and have a good story to tell. I send it out every other Wednesday (sometimes every week)- and it is separate from my traditional weekly newsletter. The basic criteria is a company that is not on the spotlight and is NOT actively raising proceeds. There is also no bias – apart from the fact that I like the story. I am not an investor or get any financial compensation to promote startups featured. This is intended for informational purposes only, using my solid base of subscribers to share intel of good people doing cool things.
Since launch, featured startups in aggregate were connected 56 times, to 29 different investors/strategic partners globally.
Finally, if you are a founder and want to be considered for this series - it is very simple:
Please fill out a one-pager, in English, about your company using the topics and themes outlined in the posts.
Reply to this e-mail with your one-pager attached.
I will review and reach out if I need more information.
It will be posted if I believe the startup fills the profile and audience of this newsletter.
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Bel organizes all real estate data to ensure people seize the best opportunities.
The platform offers the best search engine that delivers the match between demand and the available supply of ideal properties on the market in the smartest way.
Context
The Brazilian real estate market has undergone numerous changes in recent years, and technology platforms have emerged in an attempt to solve problems related to the experiences of users who are looking to acquire, sell, and rent properties.
As technology has advanced, the way we consume data, search for a property, and transact it has to adapt. Despite observing advances in some stages of this process, the initial stage of search and the subsequent quick and effective matching of demand and the available supply of ideal properties in the market remains a pain.
It was with this in mind and experiencing this pain firsthand that four individuals came together and founded Bel, combining their previous entrepreneurial experiences, complementary skills, and the support of renowned technology investors in their first pre-seed funding round:
Problem
The main issue in Brazil is that the players involved in real estate transactions lack efficiency in various stages of the process, starting with the first one: efficiently matching the demand with the ideal property available.
When comparing Brazil to other markets, such as the American market, we encounter the first challenge, which is access to data that enables informed and secure decision-making, along with the development of solutions to organize that data.
Furthermore, accessing the entire portfolio of properties in the market without repeated listings, incorrect information, and verified availability is also a hindrance to achieving the ideal matching between demand and supply, thereby impacting the volume and quality of the transactional process.
Today, there is a trade-off between quantity and quality of information. On one hand, we have players offering a vast but unqualified inventory, with information that confuses rather than assists those accessing it. On the other hand, we have companies offering quality information but with an extremely limited inventory and lack of adoption by the key players in the market who possess the most knowledge and drive the industry—real estate agencies. This falls short of what is ideal for effective behavioral change to occur.
Due to these and other factors, the experience of simply finding what one is looking for with quality, transparent data, and security for decision-making continues to be an extremely exhausting task.
Solution
Bel was created precisely to solve this problem: to gather all the quantity and quality of information available in the market in one place, with a model that does not conflict with intermediaries and focuses on highly qualifying the demand before connecting it with the ideal advertiser to meet their needs and complete the transaction process efficiently and quickly.
Our technology offers what had not been solved until now, based on three pillars:
Furthermore, Bel positions itself as the first technology company in Latin America to enable users to experience a new search concept that utilizes AI (artificial intelligence) to comprehend the maximum amount of information provided (spoiler for this week!), taking into account the specificities and needs of each search in a complementary way to the search model we are familiar with today, solely based on the use of filters:
Operating for a very short period, Bel has been proving its results through partnerships with the largest and most influential real estate agencies in Rio de Janeiro. Through collaborative efforts and continuous development, Bel is addressing the lack of transparency and reliability that currently exists in the industry.
Here is how our model works:
Bel's marketplace it’s like a mix between Zillow and Opcity models and has proven to be an excellent way to transact real estate in a faster, simpler, and more effective manner, benefiting all those involved in the process. For those directly seeking a property to buy, the platform ensures the best and most comprehensive search experience. For property advertisers, Bel guarantees the delivery of qualified leads at a specific stage of the sales funnel, saving time and resources spent on ad targeting and lead qualification.
For those who have clients with a buying demand but do not have the specific ideal property listing, Bel also helps by connecting them with advertisers in its database.
In essence, the company's goal is not only to provide a better buying and selling experience but also to influence the entire Brazilian real estate market, enabling more transactions and ensuring that this unique experience is no longer considered a nightmare, as it is often perceived today.
Market size and opportunities
The Brazilian real estate market is enormous, extremely deficient, and full of opportunities, as we have witnessed through the tremendous capital raises and venture financing in technology companies operating in this sector in recent years.
However, finding and developing a sustainable and economically viable model remains a challenge for many companies, and uncertainty and ambiguity persist among those who have invested heavily in this sector.
Despite following the venture capital model, Bel has been focused, from day one, on establishing an accounting structure that sustains itself and generates long-term profits, making fundraising and return on investment a tangible and achievable goal.
Currently, Bel's focus lies in the secondary real estate market, but there are numerous options and opportunities to explore in the long term, such as:
● real estate financing
● addons within the platform, like closing as a service
● title insurance
● primary and commercial markets
● others
However, as we say and believe: "first things first"!
There is much to be done, but it is crucial to start with a clear focus on one place, and that’s why Bel is solving the searching problem at the secondary real estate market, the crucial and the first step in every transaction.
Upshot
Operating for only 3 months, Bel has formed partnerships with the largest and most influential real estate agencies in the city of Rio de Janeiro, with 5 out of the top 10 agencies working together to provide more data transparency and enhance the experience for those looking to buy a property.
Furthermore, within this short period of time, Bel has successfully concluded 4 transactions, including one that set a record time of 7 consecutive days from the moment the demand accessed the offer in our platform to the signing of the purchase and sale contract.
Founders:
• Gregorio Kelner
• Guilherme Mitre
• Maria Eduarda Herriot
• Rodrigo Fraga