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Arcadis, Allied London put faith in PropFolio

Asset management software startup PropFolio has beaten off competition from more established rivals to win financial backing from adviser Arcadis and new business from developer Allied London.

Founded by ex-JLL surveyors Tom Cartlidge and Peter Bird, and former Barclays Ventures VP Angus Abbott, PropFolio claims to offer landlords more control over data than other similar softwares on the market.

Users of PropFolio’s platform can view income and tenancy data to produce asset performance reports in an easier and quicker way than using Excel as many properties companies still do.

Elizabeth Peckett, head of asset management at Allied London, said using PropFolio will enable it “to begin the process of digitising our property data and have all the up-to-date information available in one location, rather than across spreadsheets and legacy software systems.” This will “dramatically reduce the amount of time spent on daily admin needed for information requests, enable us to easily see the performance of our portfolios and be more efficient in meetings and conversations with tenants.”
As well as Allied London, PropFolio is working with real estate investment giants Blackstone and Ares on paid pilots.

Investors in PropFolio include European VC Pi Labs and Arcadis, through its Techstars programme.

Elizabeth Peckett, head of Asset Management at Allied London, said: “We are delighted to begin the process of digitising our property data and have all the up-to-date information available in one location, rather than across spreadsheets and legacy software systems. This innovative new PropTech solution will dramatically reduce the amount of time spent on daily admin needed for information requests, enable us to easily see the performance of our portfolios and be more efficient in meetings and conversations with tenants.”

For Allied, PropFolio is integrating with Gleensite, a platform which shows demographic information such as crime rates for the asset locations.

Both PropFolio and Gleensite are tenants of Allied’s tech hub at Enterprise City in Manchester, UK.

Cartlidge, Bird and Abbott pivoted to PropFolio from their original startup, PropCoin, a blockchain management tool for tokenising real estate ownership to make it more open to everyone and transparent.

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