Fu3e. is predicting sharp customer growth this year, driven by the harsh financial climate and demand for real-time data, after closing a huge deal with McLaren property.
Reports of a ‘commercial real estate contagion’ coming to Europe have swept across the industry as interest rates continue to erode the value of buildings around the world.
The latest victim, Germany’s Deutsche Pfandbriefbank AG, saw its bonds slump following on from concern about its exposure to the property market. Since then lenders have been seen to take increasing provisions on debt extended to property owners and developers.
In a bid to encourage developers to see this through, fu3e. – which secured £3.5 million in funding from Gresham House Ventures, and featured in sixth spot of our PropTech 50 ranking last year – is offering real-time data to help funds, owners, developers, and consultants navigate market turbulence, minimising risk by enhancing visibility, aggregating critical metrics from various sources, ensuring a fast, unified, and accurate project overview.
This month, fu3e. closed a deal with McLaren Property, a leading UK developer. McLaren Property, McLaren Living and McLaren Regeneration have a combined pipeline of £4.8 billion across 41 sites, a total of 17,500 homes.
The business already has Harrison Street, Gleeds, 3RE Partners, First Step Homes, Hudson Advisors, and Brookfield Global Asset Management owned Algeco as clients.
Under the leadership of Gavin Gleave, former managing director at Morgan Lovell, executive director of Connaught PLC, and Mace, as well as executive chairman of the F3GROUP, fu3e. is guided by a wealth of first-hand experience.
How PropTech can help to mitigate risk during challenging times
“In addition to facing macroeconomic risks, the commercial property sector is adapting to the changing nature of demand following the pandemic, adding to the wider challenges of operating in the industry today, alongside siloed sets of information and a lack of integration between technology and processes,” said the CEO and founder.
“But can those in the sector best react and continue to be successful during challenging times? This is where PropTech – property technology – can help developers to unlock the power of data, and in turn, better manage risk.”