Brazilian real estate marketplace Kzas now offers a suite of financing products, including refinancing and home-equity loans. Kzas has named the financing product Kzas Kredit.
Kzas, which raised $4 million in seed capital earlier this year, uses artificial intelligence to match buyers with listings according to the buyer’s profile and needs. It serves both buyers and sellers and private sellers can list homes free of charge.
“The credit feature will allow for quicker, more efficient one-stop solutions for our customers,” said CFO Eduardo Muszkat.
Kzas said it has already processed over 1,000 home-equity contracts for new developments. Kzas operates on a commission-based model, receiving a fee for successful transactions. The company declined to disclose their rate, but said it is below the market’s standard 6% commission.
The company said its end-to-end marketplace can complete a home sale in less than 45 days. The timeline includes the property selection, negotiation, financing and paperwork, which would normally take 90 days.