Badi CEO highlights Tinder real estate skyrocketed revenue by 100% in 2021 and announces a new round of financing at the end of the year or early 2022.

2021 is a year of movements and changes in the real estate sector. After suffering last year the greatest historical decline in the number of home purchases and changes in rental trends that have especially affected large cities, the main companies in the sector have redesigned their strategies to make the most of the de-escalation of the coronavirus.

This is the case of Badi, the platform of rooms for rent that you have taken the step to offer entire floors, which will compete directly with real estate online traditional at the same time that he is beginning to see significant upticks in their income thanks to its model of matching between landlords and tenants while still increasing the number of ads on its platform, and the speed at which these floors are tenants.

In fact, Badi has recently announced that its revenue has increased by 104% since the start of 2021. Its CEO, Carlos Pierre, assures that this upturn is due to the advantages of its matching, which works as a kind of real estate tinder, highlighting that it offers greater flexibility to its target audience, which are the youngest, which he considers are attracting by the flexibility of its "marketplace for new generations".

Badi CEO highlights Tinder real estate skyrocketed revenue

"What does this mean? As our consumer is digital, it is mobile, is a person who does not care to share your data in order for the process to be much faster, which is used to pay via mobile, then, with the start of the segment rooms, our consumer has an age, to be millennials, Gen Z or Gen X, they are very used to this and the idea from the beginning was to provide a marketplace for new generations that offers flexibility," he explains.

In fact, Carlos Pierre, points out that they no longer see Badi as a platform exclusively of rooms, as they were in their beginnings, but in that marketplace thought of the digital generations that simplifies and flexibilizes the processes surpassing the offline model that usually governs these managements. "The future of Badi, which would be the third phase, is that the rent goes online, that is, that the last 2 payrolls and all the paperwork are no longer requested", he details.

Badi CEO highlights Tinder real estate skyrocketed revenue: This digitization of the rent goes through a credit scoring that allows showing all the financial information of the possible tenant, which the CEO of Badi considers to offer security and allows them to offer non-payment insurance or to the tenant. "Badi's idea is this, to offer a rental platform for new generations where everything is much faster, easier and mobile," he says.

Thus, Pierre explains that most real estate and rental classifieds platforms work with a pay-to-list system, with which you pay to publish and in which there are no profiles, but a phone number in your ad. "The Badi case is different, we are 100% mobile and users have to register and fill out a form on both sides," he explains, highlighting that these profiles and their recommendation system offer more transparency and security.

Badi CEO highlights Tinder real estate skyrocketed revenue

"We don't charge anything because someone posts a property and we don't charge anything because someone asks to rent those properties. What it does do, and is a model that we've been testing and we've already released, is that we publish freely, we attract demand these properties, and the person who publishes the announcement of a room or an entire floor began to receive the potential candidates, with each of their profiles," explains.

The CEO of Badi says that this reduces the time spent searching for tenants from one or 2 months to about 10 days. "But, above all, it also makes it much more efficient," says Carlos Pierre, pointing out that a normal ad of a classified platform receives between 25 and 100 calls, which become 10 or 15 visits and a tenant, while in the case of Badi we receive profiles that already fit what the person who publishes the ad is looking for.

Badi CEO highlights Tinder real estate skyrocketed revenue: Advertisers can view the profiles and information of their potential tenants at no cost, in addition to receiving some free matches, which allow them to contact them through their integrated chat. "From there, we give the option of unlimited matches monthly and right now we are charging 9.99 euros per property per month," highlights Pierre, noting that the conversion has grown between 300% and 400%.

"What does this mean? Well, most of the people who leave the payment screen pay, which in our case is a success story, because we are in a market where there are professionals and we will have more and more, but it is C2C (from consumer to consumer) in which a high conversion is something rare," says Carlos Pierre, specifying that, in addition to conversion, income has increased 100% compared to 2020 and 60% monthly.

As for its positioning in the complete flooring market, the CEO of Badi explains that it responds to the growth of its own audience. "Badi, in recent years, has been focusing on rooms and it is a profile that after a year or 3 years looks for an entire floor, is what we have seen, that precisely all this database of users, as they already know Badi and it has worked well, they return to Badi and begin to look at floors, now 20% of our searches are full floors," he adds.

Badi CEO highlights Tinder real estate skyrocketed revenue

For this reason, Carlos Pierre points out that they are focusing more on renting apartments as a whole. "We now want to be a rental platform in general and here we are going to fight with the classifieds in each country, and in Spain we are talking about Idealista, Fotocasa or Habitaclia", he says, noting that they will compete for a similar consumer, although highlighting that there has been a generational change in landlords, who are also looking for more flexible and digital models.

"I believe that Badi, both in supply and demand, it's going to be or want to be the platform for this new generation, which honestly is a little tired of the user experience on these platforms, because with the technology out there today, it can't be that between me on one of these platforms and watch the same floor 6 times, you can't see pictures horrific, a very poor description, you may not have to call," says Pierre.

Badi CEO highlights Tinder real estate skyrocketed revenue: This shift to full-apartment rentals means that Badi will have to adapt to a more professionalized market. "Badi was not intended to work with professionals at scale, it works very well when you have 1, 5 or 10 rooms to manage, when you have 300 with several agents it is different. That is why we are now preparing the platform so that there is a comprehensive management" that suits both a landlord with an apartment and a professional with 1,000, he says.

To achieve this goal, the CEO of Badi predicts a new round of investment at the end of the year or beginning of 2022 to continue growing. "We have received investment from very powerful US and European funds that have helped us digitize a little much of this market, which still remains more, to expand and generate mainly liquidity," he says

"We have taken advantage of the coronavirus to become much more cost-efficient, as all the companies and I think that exercise is quite good, and especially to focus on the monetization model," he noted, stressing that have tried this model for a year and a half and, once tried, you want to add about 8 to 12 months of steady growth, which already carry 4, for this new round.

"The idea is at the end of the year, early next year, with the numbers we have, raise a round", explains Carlos Pierre, who stresses that he can not give figures, since the amounts will depend on how that model works, but specifies that it would be a round to export its model to different European cities and grow as a team, highlighting that during the pandemic focused operations in Barcelona, but they have started contracting again for 2 months.

# Badi CEO highlights Tinder real estate skyrocketed revenue #