Quinto Andar acquires Noknox, a digital condominium management company, in a transaction intermediated by Pipeline Capital Tech, which provided advisory and strategic support for the operation.
Noknox operates in all regions of Brazil, has almost 34,000 registered users and around 60% of users use the app every week.
The company was created in 2018 by friends Joaquim Venâncio, Alexandre Landim and Filipe Silva, who were tired of the small annoyances of everyday life in buildings – for example, that intercom ringing on Saturday at 7am to let them know that an order had arrived.
Thinking about more comfort and security in the condominiums, they developed a communication platform that connects residents to superintendents, doormen and service providers in the buildings through an application on their cell phones. Noknox notifies you if an order has arrived, controls visitor access, manages the reservation of common spaces in the building and also registers occurrences.
QuintoAndar has more than 150,000 contracts today and BRL 80 billion in assets under management, operating in more than 50 cities in Brazil. In December 2021, the company bought the Navent group and began operating in Argentina, Ecuador, Panama, Peru and Mexico. QuintoAndar’s most recent capitalization round was in August 2021, when the company raised $120 million from Greenoaks Capital and Tencent and was valued at $5.1 billion.
Check out the original article in Brazil Journal