QuintoAndar has its eyes set on Portugal and will open a technology center in Lisbon in 2022 – Business
Born in 2013 in Brazil, um QuintoAndar is considered one of the largest housing platforms in Latin America and, in 2021, reached a mark of 5.1 billion dollars in market value. The startup, which is currently present in 42 Brazilian cities, is now preparing to open its first offices in Europe, having chosen Lisbon as the location for a new technology center.
To SAPO TEK, Gabriel Braga, CEO of QuintoAndar, explains that, although a COVID-19 pandemic was a “great scare”, after a few months, a startup witnessed an “accelerated recovery” of revenues. “Despite all the negative effects of the pandemic, it turned out to be something that accelerated our business”, prompting it to put into practice its expansion plans, whether in Latin America, in countries like Mexico, or in Europe
The startup expects its technology center in Lisbon to be operational in March 2022, with 50 employees by the end of that year and allowing it to give a “boost” to the talent and resources of its team with new professionals. “Some of the most competent, experienced and creative professionals in the world are currently known in Europe”, says Gabriel Braga.
“We always invest a lot in technology. The team starts in Brazil and is composed mainly of Brazilians, but it has never had any result in investing in a «world-class» team. (…) “Among the countries with which we ended up interacting, we always perceive Europe as a «magnet »of talents”, he indicates.
For the official, Portugal is one of the fastest growing markets in terms of technology and QuintoAndar wants to be very close. “Portugal was an obvious choice for us, given its strategic location in Europe and because it would be easier to adapt the new office to our culture”, explains the CEO. “As Lisbon becomes one of the industry’s most relevant hubs, we hope to help attract more companies and investment, while continuing to develop the Portuguese technology ecosystem.”
The new technology center in Lisbon also presents itself to a QuintoAndar as a way of dealing with some of the challenges it currently faces in terms of providing its property rental, purchase and sale services.
“Our plan for the team in Portugal is to act independently, with its own projects and autonomy to decide what is best for the company”, adds André Penha, co-founder and CTO of QuintoAndar, in a statement.
“We are now increasing our investments in technology and design even more”, says the responsible, indicating that the company intends to include software engineers, data scientists, designers and product managers to complement the team to develop new solutions.
Regarding plans for the future in Portugal, Gabriel Braga tells SAPO TEK that, “for now”, the focus is on opening the technology centre, which will be “an important pillar” of the global team. In the process of international expansion, Mexico will be, as early as 2022, the next step for QuintoAndar.
“We want to eventually go to other countries”, but, as he admits, it is still too early to think about an even deeper expansion. But one thing is certain for Gabriel Braga: “Having an increasingly diverse and global team increases as our chances of being able to operate in other countries.”