Why I Invest in the Real Estate Auction Platform Cardeal
Investing in a startup that solves my problem with bidding on real estate auctions
A year ago, I invested in the real estate auction platform Cardeal.
The proptech, founded by my friend Guilherme Lourenço, solved one of my challenges in buying apartments to rent and make money through Airbnb in São Paulo. Cardeal is a software tool to search, analyze, and manage real estate auctions in Brazil.
This market is growing fast, and more people are becoming interested in investing and diversifying their portfolios. Cardeal was born at the perfect time.
In the past, real estate auctions were primarily dominated by lawyers, real estate development and construction companies, banks, and large investors. Now, the market can be accessed by investors of all sizes.
My strategy for investing in this asset class (houses and apartments) has always been focused on buying at auctions. Over the last ten years, I’ve purchased more than seven apartments through auctions and learned a great deal about the real estate market.
The Pain:
Searching for good apartments and houses, understanding the most desirable neighborhoods, and calculating ROI was always a lot of hard work for me. The data in this market is fragmented. I spent many days searching auction websites, calculating risks, filtering through various data, consulting hundreds of lawyers, and only after all of this, deciding whether to bid.
It was exhausting. When I discovered the Cardeal platform, all these problems were solved. Now, I simply log in to the platform, search for opportunities, and make my decisions in a fraction of the time!
The company, backed by other significant angel investors (including the founders of iClinic), and created by founders with a deep history in this market, really caught my attention.
It was an easy decision to invest in Cardeal.
Why Cardeal?
The Team: Lourenço, Gabriel Antonini (partner), Paulo Oliveira, and Daniel Silvestre are building one of the most exciting Brazilian startups. They are highly ambitious entrepreneurs, combining complementary skills. Lourenço, in my opinion, is the leading expert in this market. On top of that, I’ve had the pleasure of working with Silvestre at Vindi—a brilliant team all around.
Impact: Investors, banks, and companies using Cardeal are changing the way they bid at auctions. The company’s strategy—combining SaaS and fintech—is one of the main reasons I chose to invest in startups. Managing people’s money is a valuable proposition.
Market: Despite the market's size (in the billions), Brazil is changing the rules of the real estate business. The most exciting company in this space, Quinto Andar, is only 10 years old. The new generation of buyers will bring a fresh dynamic to the real estate market. It’s a market in transition.
Being both an investor and a client at the same time has been a valuable experience. Since my investment in Cardeal, I’ve purchased a house and a farm in the countryside of São Paulo, with both cases supported by Cardeal.
Leilão Cast
Recently, I was invited to speak with the founders on the "Leilão Cast" podcast. See below.