Brazilian end-to-end real estate rentals and property sales, QuintoAndar, has raised $120 million in a Series E funding round and is now valued at $5.1 billion U.S., the company said.

The investment round was led by Greenoaks and Tencent Holdings. The funding will further accelerate QuintoAndar’s business plan execution, the company said.

So far, QuintoAndar has raised over $700 million since 2013.

In 2020, QuintoAndar expanded to 14 Brazilian cities and is now eyeing the Mexican rentals marketplace.

QuintoAndar says it manages over 120,000 real estate rental contracts and adds about 10,000 rentals per month, 20 and 30 times more than its undisclosed competitor.

QuintoAndar also entered the property sales market. It manages over 60,000 property listings and has closed 10,000 real estate transactions.

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