Rising interest rates and a cooling property market bode well for Sydney-based start-up Managed App, which has banked $5.3 million in fresh capital to expand its sales teams as real estate agencies across Australia look to squeeze more earnings from property management rather than just housing sales.
Backed by ASX-listed REA Group, which led this latest funding round alongside Momentum Markets, Managed App has signed a deal with Century 21 as the preferred technology partner with hopes of scooping up new franchisee customers.
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Jessica Sier is the North Asia Correspondent for The Australian Financial Review. She is based in Tokyo, Japan. Jessica has previously written on technology, global capital markets and economics. Connect with Jessica on Twitter. Email Jessica at jessica.sier@afr.com
