Philippo

About Philippo

Philippo is a Chilean proptech company founded in 2021 by Argentine entrepreneurs Guido Galanter (CEO), Nicolas Piqueras (CFO), and Tomas Gropper (CTO). The founders established the company in Chile to introduce a "Power Buyer" business model, combining property technology and financial technology, to the Latin American market. This move was supported by their participation in the Start-Up Chile accelerator program.

The company addresses a common challenge for homeowners in Latin America, where approximately 40% need to sell their current property to finance the purchase of a new one. Philippo's core service is a sale-leaseback solution designed to provide liquidity to these homeowners. The process involves Philippo appraising a client's property and advancing up to 75% of its value. The company then purchases the property, allowing the former owner to continue living in it as a tenant by paying a monthly rent. This arrangement gives the client immediate capital and the time needed to find and move into a new home without the pressure of a quick sale. Once the client moves out, Philippo sells the property. Upon the final sale, Philippo recoups its advanced payment, and the original homeowner receives the remaining equity, including any capital gains generated during the lease period.

Philippo operates in the business-to-consumer (B2C) real estate services market, specifically within the real estate technology (proptech) vertical. The company generates revenue through its sale-leaseback transactions. To fuel its operations, Philippo secured a Seed funding round of $1.76 million on January 4, 2022, led by the accelerator Y Combinator, as part of its Winter 2022 batch. Other investors include MK Venture Capital, Soma Capital, Frontal Trust, 10X Capital, Fen Ventures, and Gaingels. In May 2022, the company announced a $20 million investment from Frontal Trust to enhance its technology and team, with plans to expand its operations to Mexico.