Recently, in April 2024, Canada’s government recognized the importance of PropTech innovations in solving complex housing issues in the country. In its Annual Budget 2024, Canada pledged to invest in technological innovations in real estate. This comes as a big boost to the vibrant PropTech ecosystem of Canada consisting of more than 500 promising start-ups.
1. Nobul
Founder: Regan McGee
Founding year: 2017
Headquarters: Toronto, Ontario
Valuation: $ 260 million (Pre-money valuation)
Revenue: More than $ 5 billion in completed sales (between 2017 -20222)
Investors: K2 & Associates Investment Management, Canaccord Genuity Group, BMO Capital Markets and Stifel
The PropTech platform Nobul connects buyers and sellers with the best real estate agents and brokers online. The online marketplace is known for promoting fair practices through its data analytics and AI-led systems that allow agents and brokers to directly bid for businesses. Using the Nobul app, customers can compare agents and make informed decisions on their property transactions.
2. Padder
Founder: Daniel Moss
Founding year: 2021
Headquarters: Toronto, Ontario
Currently in the Beta stage, Padder is a PropTech enterprise that seeks to make the residential property rental market rewarding for both tenants and landlords. Its flagship product, ‘Padder Approved’ minimizes the risks involved in renting properties for owners while making the units flexible and affordable for tenants. Owners can also collect rent, monitor expenses, and track maintenance issues using the free Padder property management tool.
Founders: Jason Cassidy, Michael Gord, and Zachary Friedman
Founding year: 2015
Headquarters: Toronto, Ontario
Investors: GroundBreak Ventures and GDA International.
The Metaverse Group is a PropTech breakthrough in the metaverse economy which allows you to rent, acquire, and develop virtual property. Using crypto, blockchain, and non-fungible token (NFT) technologies, the Metaverse Group plans to establish itself as the leading real estate brokerage with services like consultation, virtual property management, and marketing in the metaverse.
Founders: Peter van Garderen, Dorus van der Kroft, Aaron Moguin, and Dan Amankona
Founding year: 2022
Headquarters: Toronto, Ontario
Valuation: Total funding of $ 190K
Investor: Newchip Accelerator
Landano is a RealFi PropTech innovation whose decentralized land management system maintains land and property records in tamper-proof NFT documents using the Cardano blockchain technology. The platform is customizable to meet the requirements of different jurisdictional areas. Governments and communities are using the technology to create legally compliant land and property documentation to promote equitable and transparent property rights in Mozambique and Ghana.
5. Coworker
Founders: Sam Marks and Leanne Beesley
Founding year: 2015
Headquarters: Toronto, Ontario
Investor: Acquired by The Instant Group
The PropTech platform Coworker is one of the largest online marketplaces for finding co-working spaces around the world. Its network spanning 172 countries allows customers to review and compare co-working options even between countries. Coworker’s flexible office solutions are used by leading corporations such as Google and Tesla.
6. vadiMAP
Founders: Jeremy Boucher, Nicolas Mary, and Dan Boucher
Founding year: 2018
Headquarters: Montreal, Québec
Investors: Esplanade Québec and Center of Excellence in Energy Efficiency
vadiMAP’s AI-driven solutions are helping organizations meet their energy efficiency goals, especially in the commercial real estate (CRE) sector. The vadiMAP platform uses algorithms built by its team of in-house experts to assess the energy performance of commercial and industrial buildings. Users can track their carbon footprint, receive recommendations, and construct energy-compliant buildings using its centralized dashboard.
7. Wowa
Founder: Hanif Bayat
Founding year: 2016
Headquarters: Toronto, Ontario
Valuation: Total funding of $ 182K
Wowa’s online data resources are used by millions of Canadians to make informed financial and property-related decisions. Known as Canada’s foremost personal finance encyclopedia, Wowa features 1000+ tools to perform tax, insurance, and mortgage calculations. Its guides and reports based on current housing market data are trusted by buyers, sellers, and real estate agents.
8. Breather
Founders: Caterina Rizzi and Julien Smith
Founding year: 2012
Headquarters: Montreal, Québec
Investors: Acquired by Industrious in 2021
The PropTech platform Breather offers short-term rentals of private working spaces. The company lists properties in partnership with real estate owners, brokers, and managers. Unlike co-working spaces, Breather properties are secure and distraction-free and can be rented for months, days, or even a few hours.
9. HonestDoor
Founder: Dan Belostotsky
Founding year: 2018
Headquarters: Edmonton, Alberta
Valuation: Total funding $ 2.7 million
Investors: Luge Capital, REACH, and Second Century Ventures
Real estate owners across Canada can use HonestDoor’s brokerage platform to list their properties on the Multiple Listing Service (MLS) for as little as $ 500. The listings will simultaneously feature on Realtor.ca and remain active for a year. With HonestDoor, property owners have the power to edit their listings and define the terms on which they intend to sell their property. The platform also uses machine learning and data science to provide accurate property valuations.
10. Key
Founders: Daniel Dubois, Derek Manuge, and Rob Richards
Founding year: 2018
Headquarters: Toronto, Ontario
Valuation: Raised $ 8.5 million in 2022
Investors: Plazacorp, N49P Ventures, Red Jar Capital, TSV Capital, Moderne Ventures, and others
Key promotes a new-age co-ownership model that makes it possible for everyone to own a home. Once launched, the patent-pending PropTech platform will offer comprehensive co-ownership services to consumers. Using the Key model, consumers will be able to co-own a home by paying as little as 2.5% of the total home value.
Founder: Dan Reitzik
Founding year: 2021
Headquarters: Vancouver, British Columbia
Valuation: $ 20 million (approximately)
Revenue: $ 1.5 million (in Quarter 1 and Quarter 2 of 2023)
Investors: Acquired by BIGG Digital Assets Inc. in 2023
Terrazero Technologies is a leading metaverse platform that offers digital real estate services. The company owns virtual assets and deploys them to create unique business opportunities like metaverse offices, parties, and live events. Top brands consult Terrazero for metaverse advertising and marketing solutions.
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By Proptechbuzz
By Ravi Kumar
