PropEco secures funding for future-proof property tech.

Glasgow-based tech company PropEco has recently secured £275,000 in seed funding to propel its innovative technology platform aimed at future-proofing property, insurance, and mortgage lending.

This capital infusion will enable PropEco to further its mission of empowering property professionals, lenders, and insurers with cutting-edge data and analytical tools to effectively navigate the impact of rapidly evolving social and environmental trends, particularly climate change, on properties. The company plans to expand its team, accelerate product development, and lay a strong foundation for international expansion within the next year.

The lead investor in this funding round is Symvan Capital, a prominent London-based venture capital firm known for its support of early-stage, high-growth technology companies. The University of Strathclyde’s Inspire Entrepreneurs Fund has also participated in this significant investment.

PropEco primarily focuses on three key factors – transition climate change risks, physical climate change risks, and impacts on wellbeing – to offer a comprehensive and holistic assessment of the long-term value and viability of properties and locations.

The company’s AI-powered platform continuously analyses data from numerous sources, including proprietary ones, to provide detailed assessments of evolving factors like flood risk, air quality, and potential for green retrofits. This information powers various products and services such as an API, portfolio assessment service, browser-based risk assessment tools, and property reports.

By delivering unique insights in an easily accessible and cost-effective manner, PropEco brings numerous benefits to clients including time and cost savings, enhanced risk management, improved regulatory compliance, and increased customer retention.

Founder and CEO Chris Hardman, an experienced entrepreneur with a background in developing innovative cleantech products, highlighted the importance of incorporating environmental and social factors into financial and property decisions. Hardman expressed confidence in PropEco’s ability to capitalise on the growing market demand for climate-conscious property technology and emerge as a leader in this emerging field.

Allen Xu, an investment manager at Symvan Capital, expressed excitement about supporting PropEco’s mission to revolutionise how the property sector approaches climate risk. Xu stressed the significance of integrating advanced analytics into decision-making processes, especially as climate change accelerates and underscores the urgency for data-driven solutions.

Moreover, Anne Henderson, interim head of investment at the University of Strathclyde, commended PropEco’s innovative approach and commitment to positively impacting the property market. The University of Strathclyde, as a socially progressive and values-driven institution, takes pride in supporting entrepreneurs like Chris Hardman who are dedicated to making a positive difference.