Madrid-based PropHero, a digital platform leveraging AI to connect property investors with high-yield opportunities, has raised €2.5 million from BBVA Spark to support its expansion in Spain.
The funding, backed by the EU and the European Investment Fund through the InvestEU programme, will enhance PropHero’s liquidity and facilitate its growth in the Spanish market. With its headquarters and much of its workforce now in Spain, this financing supports its focus on scaling within Europe.
Pablo Gil, Co-CEO and Co-founder of PropHero, stated, “The trust of BBVA Spark is fundamental to our growth strategy. This agreement strengthens our ability to scale operations, meet demand, and innovate in the real estate sector through technology.”
Originally founded in Australia in 2021, the company is now concentrating resources on Europe, with Spain as its strategic hub.
Operating in four countries, PropHero has facilitated the purchase of over 1,800 properties, claiming better returns than broader markets in Europe, Asia, and Australia. It serves over 10,000 active users with a data-driven platform that analyzes trends and optimizes property selection for investors.
PropHero aims to double its business by 2025, utilizing its AI-powered tools and rising demand for digital real estate services.
Miguel Ángel Alcalá, Head of BBVA Spark in Spain, commented, “PropHero embodies the type of digital, ambitious company we support at BBVA Spark. Its data-driven model democratizes real estate investment and aligns with our goal to back innovative, sustainable business models.”
Despite its European expansion, significant changes are unfolding in its Australian operations. As reported by The Australian Financial Review in April 2025, the startup has cut most of its Australian staff, with remaining employees asked to switch to commission-only roles. Marketing has moved to Spain, reflecting strategic shifts.
Sources cited by AFR suggest declining revenue in Australia has prompted a focus on international markets.
A PropHero spokesperson affirmed Australia’s continued importance, citing over 50% revenue growth and 40 new team members in the past six months as indicators of strong momentum. They expressed confidence in PropHero’s trajectory toward becoming a leading AI platform for real estate investment.