Bllink Property Management Platform closes a US$1.2 million seed round to support its Growth and ExpansionJuly 8, 2021 2:10 pm
Tel-Aviv, Israel, 07 July 2021 — Bllink, a property management platform that provides a financial solution for residential buildings, today announced that it has secured $1.2 mln in new financing from a group of investors, lead by WIX’s founders and management, Flashpoint Venture Capital, Altair and other investors.
Bllink (previously known as PtoP in Israel and rebranded to Bllink for the global markets) is an automatic payments platform that enables seamless communication between tenants and payment agents uniting all related processes including invoicing, money collection, financial management and reports generation.
Since its commercial phase in 2019, Bllink already grew to processing $10 million of payments a year, servicing hundreds of buildings, managing over 25k apartments and growing triple digit. Among the customers are property management companies and self managed buildings. Business model is based on taking a small commission fee according to the usage of the app / size of the property manager portfolio. Large residential property managers experience significant uplift in timely collections and reduce headcount, saving multifold on using the platform.
European market is estimated at 250 million apartments with the global tenant billing software market size valued at US$318 million in 2020 and is expecting to double in the next 5 years according to Grand View Research.
Bllink’s main competitive advantages include friendly interface, flexible payment dates, payments to vendors, concierge and maintenance services, dynamic fees payment, reminders and messages distribution.
Omri Peled, founder and CEO of Bllink, commented: “We’re building the future of buildings. Especially in today’s social distancing environment, it is crucial for buildings to have an ability to manage payments remotely and simplify complicated financial services’’
Ran Tushia, Wix’s investor, added: “Bllink has an outstanding product that doesn’t focus only on the technology but also on its users. The company has built a bespoke solution that will increase tenant satisfaction and decrease stress for property managers. I believe that Bllink will become an IT hub for many residential buildings.”
Alex Konoplyasty, Managing Partner of Flashpoint Venture Capital, commented: “Flashpoint has previously announced that we plan to invest at least $100 million in Israeli startups over the course of 2021–2023 and we are happy to announce that we are following this strategy. We welcome Bllink to the Flashpoint Family — this is already our 7th investment in Israel over the last 4 years. We strongly believe in the future of property management platforms as the global real estate and tenant billing software market is growing rapidly. The results achieved on the Israeli market are impressive and Flashpoint will definitely add value to the international expansion. We are happy to partner with Ran on this deal”.