Colombian Brand Fincaraíz Gets a $2M Makeover for Its 30th Birthday

The Frontier Digital Ventures owned brand Fincaraíz has celebrated its 30th birthday with a makeover of its property portal website.

Started as a print magazine back in the early 90s, the brand has come to be the market leader in Colombian real estate and, alongside North African horizontals Avito and Tayara, was bought from Adevinta by Malaysia-based FDV in October last year.

Fincaráiz has since closed its print operations and moved fully online where since the beginning of September the portal has been showing off a new mobile-friendly design. According to recently appointed CEO Martin Monzon, some 74% of visits and 69% of leads come from mobile users which is why the company spent 10 months making sure all facets of its new site were spot on for Colombian mobile users.

Speaking to local media outlet Portafolio, Monzon claimed that Fincaraíz has seen 35 million visits in the first six months of the year representing a 16% increase over the same period in 2020. Monzon added that these visitor volumes along with listing volumes up around 22% year-on-year are driving around 1.8 million average monthly leads to agents.

The opportunity for Fincaraíz is clearly a big one. The company generated just over A$4 million in H1 of 2021 representing around 18% of FDV's total revenue for the period.

According to the ASX-listed parent company's H1 2021 presentation, around half of FDV's portfolio revenues are generated through 'transaction based' streams. With the likes of Aptuno (rentals) and La Haus (new builds) having a big impact in the country with their transaction-oriented models, FDV will be keen to transition Fincaraíz with its excellent brand awareness to a more transaction-based revenue mix.