ComunidadFeliz, a Chilean proptech startup specialized in condominium management software, was acquired by Visma in an operation worth almost US$70 million. The transaction marks one of the most significant exits in the Chilean proptech ecosystem and consolidates the presence of the Norwegian group in Latin America.
Founded in 2015 by Antti Kulppi (CEO), David Peña (CRO) and Pablo Exss (CFO), the SaaS company operates in several countries in the region offering technological solutions for the management of residential buildings and condominiums. At the time of the acquisition, ComunidadFeliz had a turnover of close to US$11.5 million annually and a team of around 200 people.
The transaction values ComunidadFeliz at approximately 6x ARR (Annual Recurring Revenue), a competitive multiple for SaaS companies in the region that reflects both the strength of the business model and the growth potential in the property management market.
Visma consolidates its Latin American strategy
Visma, a Norwegian multinational corporation that provides technology and solutions in human resources and finance, has acquired more than 7 Latin American startups in recent years as part of its regional expansion strategy. Among the previous acquisitions is the Argentine Lara AI, consolidating its commitment to talent and technological solutions developed in Latin America.
The incorporation of ComunidadFeliz strengthens Visma’s portfolio in the proptech vertical, a sector that has experienced accelerated growth in the region thanks to the digitalization of real estate processes and the demand for solutions that simplify property management.
Founders’ career
Antti Kulpi, CEO of ComunidadFeliz, was previously CTO of Poliglota, a Chilean startup that participated in Y Combinator. David Peña, CRO, is a serial angel investor with experience in the Latin American entrepreneurial ecosystem. For his part, Pablo Exss completes the founding team from the role of CFO.
ComunidadFeliz’s decade of history from its foundation to exit demonstrates the ability of Chilean startups to build scalable and attractive SaaS companies for top-level international acquirers, consolidating Chile as a proptech innovation hub in Latin America.
