Technology platform Konfidis Realty aims to differentiate itself through lower fees and coverage of legal fees.
Proptech platform from Toronto caper partners with Montreal-based Anything to add mortgage services as another tool to its digital service for Ontario homebuyers.
We are technology and process specialists, so we automate [everything] other than entering the house, negotiating and closing.”
John Asher, CEO of Keypr
Keypr is the consumer-facing online platform of Toronto-based realtor Konfidis, a joint venture between advisory firm FirePower Capital and Feld Ventures. Founder and CEO John Asher told BetaKit that the platform guides buyers through the buying process, from booking an appointment to closing the deal.
“We are technology and process specialists, so we automate [everything] other than going into the house, negotiating and closing,” Usher said in an interview.
Since its launch last year, the Konfidis-owned platform has focused on providing discounts to customers experiencing rising house prices. The company says it returns up to 80 percent of buyers' commissions by allowing its Realtors to take a smaller cut. According to the CEO, Keypr realtors are given more deal volume to make up the difference.
Usher believes that bringing in online lender Nesto, one of Canada's leading mortgage providers, was a natural next step in delivering higher mortgage rates through a similar digital platform. Through this partnership, Ontario users will be able to purchase the Montreal company's mortgage services through Keypr. It also covers legal fees for users entering into transactions.
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Nesto is among Canada's best-funded tech startups, having raised more than $200 million. In 2024 it is acquired CMLS Groupat the time the third largest mortgage finance company in Canada for an undisclosed amount. The company said it currently manages $73 billion in mortgage assets and employs more than 1,000 people under the Nesto Group, which includes Nesto, CMLS and its sister brand Intellifi.
The Canadian technology industry encompasses a range of digital services related to the purchase, sale and rental of real estate, including mortgages and insurance. Proptech has recently faced challenges in the fundraising market, consistent with the broader technology sector. Proptech companies raised about $300 million in venture capital (VC) last year, down more than 60 percent from the year before, according to the nonprofit industry group. Proptech Team. Almost a third of technology companies operating in Canada are early stage or earlier.
Keypr's proposal to provide homebuyers with a cheaper platform comes as the federal government plans a massive construction campaign to address the nation's housing crisis. This week the government launched the agency Build houses in Canada with an initial envelope of $13 billion. The goal of the project is to cooperate with developers and construction organizations, as well as with government agencies, in order to reduce construction time and optimize the purchase of building materials.
Image provided Unsplash. Photo by Saket.
