Australian-born, Spanish-grown: PropHero lands €2.5 million from BBVA Spark to fuel real estate tech push in Spain

Madrid-based PropHero, a digital platform using AI to connect property investors with high-yield opportunities, has secured €2.5 million in financing from BBVA Spark to fuel its expansion across Spain.

The funding – supported by the EU and the European Investment Fund through the InvestEU programme – will reinforce PropHero’s operational liquidity and support its growth plans in the Spanish market. With the company now headquartered in Spain and having concentrated much of its workforce there, this financing aligns with its increasing focus on scaling within Europe.

Pablo Gil, Co-CEO and Co-founder of PropHero, said: “The trust of BBVA Spark has been fundamental to driving our growth strategy. This agreement strengthens our ability to scale operations, meet increasing demand and continue transforming the real estate sector through technology.”

Although founded in Australia in 2021, the company is now directing its resources firmly towards Europe, where Spain has emerged as its operational and strategic hub.

Operating in four countries, PropHero has helped users purchase more than 1,800 properties, which the company claims have outperformed broader market returns in Europe, Asia, and Australia. It currently serves more than 10,000 active users, offering a data-driven platform that analyses market trends and optimises property selection for investors.

PropHero aims to double its business volume by 2025, leveraging its platform’s AI-powered property matching tools and rising demand for digital real estate investment services.

Miguel Ángel Alcalá, Head of BBVA Spark in Spain, said: “PropHero represents the type of company that we want to support at BBVA Spark: digital, ambitious and with a real impact on its sector. Its model, based on data and artificial intelligence, democratises access to real estate investment and aligns with our priority of backing innovative and sustainable business models.”

However, while PropHero focuses on expanding in Europe, its operations in Australia are undergoing significant changes. According to an April 2025 report from The Australian Financial Review, the startup has dismissed the majority of its Australian team, with remaining staff reportedly asked to forgo salaries and switch to commission-only roles. Marketing functions were relocated to Spain, reflecting a broader shift in strategic priorities.

Anonymous sources cited by AFR suggest that revenue in Australia has diminished, prompting the company to reallocate attention to international markets.

A PropHero spokesperson indicated that the company continues to view Australia as an important market, despite the restructuring. They pointed to over 50% revenue growth and the addition of more than 40 new team members in the past six months as evidence of strong momentum, and expressed confidence – shared by both the team and investors – in PropHero’s trajectory toward becoming a leading AI-driven platform for real estate investment.

The post Australian-born, Spanish-grown: PropHero lands €2.5 million from BBVA Spark to fuel real estate tech push in Spain appeared first on EU-Startups.