Following its participation with the 500 Startups accelerator in Mexico City, the marketplace facilitating land purchases and rentals even established new Latin American headquarters in the region’s largest Spanish-speaking country. Meaning, it may only be a matter of time until this proptech reaches more markets throughout the region.
As the only Chilean participant from this recent 500 Startups cohort, now PortalTerreno is officially scaling into Mexico. Such a development comes after running for two years in its native Chile.
“This is an excellent opportunity to expand PortalTerreno to other Latin American countries, starting with Mexico,” said founder Andrés Sadler in a recent press release.
“We are happy to be partners of one of the largest startups investment funds in the world. This will help us to accelerate this process even further, more so with the excellent team at PortalTerreno.com.”
Today, this Chilean startup is reportedly the most visited site for land acquisitions in Chile with over 8,000 listings. These include sites for residential, agricultural, as well as commercial purchases.
Land real estate platform PortalTerreno scales to Mexico
After receiving over 1,700 applications, 500 Startups only invited nine to be part of this event. Translated as “land portal” from Spanish, the Chilean search engine invites users to either buy, sell, or lease available plots. However, the primary differences involve streamlined efficiency and less bureaucratic loopholes.
Moving forward, now PortalTerreno intends to tailor its business model to the Mexican sector. The results stemming from what it achieves in this new territory will serve as the foundation for other growth spurts throughout Latin America in the near future.
When it comes to what attracted PortalTerreno to this geographically diverse nation, much revolves around untapped potential.
“The land market in Mexico is gigantic and there is still a lot of growing space and to deliver better tools to Mexican users,” said Sadler. “This way, users can make an investment decision with the most information.”
Land real estate market
Over the past two years, PortalTerreno has become one of Chile’s most prominent platforms for land real estate. Working closely with property brokers, it has developed a large network of real estate projects. Whether for lots, plots or condominiums in the making, the website showcases land with versatile uses.
“We deliver a specific solution to the land market, which has always been displaced by the traditional real estate market such as houses and apartments,” said Hernán Montes, Product Manager at PortalTerreno.
If PortalTerreno plays its cards right, Mexico could very well become the catalyst it has been looking for. Safe to say that 500 Startups certainly has a success story on its hands.
All the while, launching operations in a massive economy like Mexico could certainly provide a springboard to other untapped markets. That’s to say, if you can make it there, you can make it anywhere.