South Africa’s Flow is Rewarding Tenants for Good Behaviour
Flow is South Africa’s number one App for tenants, it was founded by Daniel Levy, Gil Sperling and Jonathan Liebmann in 2019. Also, whether one is a tenant in lease or a tenant looking for a lease, it is very easy to get into Flow. The startup is on a mission to revolutionize the way tenants rent and live.
Flow developed an app that rewards tenants for good behavior and has raised a ZAR20 million (US$1.47 million) which is the largest proptech seed investment in South Africa ever, the funding round is in a bid to fuel its growth and add to its service.
The startup claims that the funding would help increase the base of tenants already using Flow, as well as to increase the range of rewards available. The app rewards tenants for registering, adding their property details, paying their rent on time and looking after their homes.
For these rewards, Flow has struck partnerships with a number of brands in the lifestyle, entertainment, homeware, fashion and travel space, including: Superbalist, Weylandts, SweepSouth, OneCart, plus a selection of airtime and electricity providers.
The Flow app is available for all tenants on iOS and Android. It is free to download and there is no need for a landlord to get started. The app also targets millennial renters, from about 22 – 37 years old, as it is commonly known as Generation Rent. Tenants that are fully in Flow can get up to 20% of their rent back in rewards every month.
Sperling, the CEO of Flow said the property industry, locally and globally, was one of the few verticals which has not seen much innovation, making it an industry ripe for disruption. “Compared with any other industry, the property industry – and in particular the rental market is archaic and disconnected. There is also a massive paradigm shift in how people should rent, which is inspired and driven by their lifestyle choices, and is something proptech could and should leverage big time. People are used to being connected all the time and transacting digitally, in real-time; and they want transparency in their dealings with companies, including their landlords” he said.