Tech firm uses data to help property investors
Suvidh Arora is the new CEO at investment platform PropHero, replacing Sophie Hayek who recently stepped down to prioritise her family after the birth of her son.
PropHero, founded in 2021, is a property technology company that uses a proprietary data model to find the highest return and lowest risk investment properties across Australia, Spain and Indonesia.
Arora (pictured above) is a former investment banker with JP Morgan and UBS, and the founder of Melbourne brokerage Cinch Loans.
He has stepped away from his role in Cinch Loans to allow him to focus on PropHero and avoid any conflicts of interest.
Cinch Loans’ co- founder Priya Sood has taken over the reins from Arora.
Arora is currently in talks with a range of brokers and aggregators about PropHero and plans to partner the company with as wide a section of the broker community as possible.
“We're already talking to a couple of aggregators and CRM providers as well and there's definitely an appetite for something like this,” Arora said.
There are plans for further expansion over the next 18 months, with PropHero zeroing in on countries with strong economies and a reputation for technology adoption, with good properties for sale in locations where people are keen on property investment.
Hayek to become PropHero brand ambassador
Arora said PropHero, which has over 80 staff in eight countries, would maintain a close relationship with Hayek who will take on the role of brand ambassador in the next few months.
“I’ve known Sophie for over two years now and I want to acknowledge her efforts in making PropHero the standout success it is today,” Arora said.
“I look forward to taking PropHero into new countries and new locations in the next few months. I’m proud to join an investment platform with such an impressive pedigree across AI and data, investment strategy and finance.”
Arora said with property one of the biggest asset classes Australians could invest in, he expected there would be strong ongoing demand for PropHero’s services. “Everyone's looking to invest,” he said.
Arora said while PropHero already had an app, an enhanced version was set to hit the market in early January 2024.
Suvidh Arora recently named No.1 in Top 100 Brokers
Arora, who was recently named the top mortgage broker in Australia in MPA’s Top 100 Brokers for 2023, will be working alongside PropHero founders Mickael Roger and Pablo Gil Brusola.
Roger said he was pleased to have Arora join the leadership team.
“Suvidh will help us continue our ultra-fast growth trajectory and help us become the number one place for property wealth, both in Australia and in our other international markets,” Roger said.
Gil Brusola described Arora as an exceptional people-oriented leader.
“Culture is everything in a company, and Suvidh will help us ensure we keep this amazing culture while scaling fast,” Brusola said.
Mortgage Professional Australia recently named Cinch Loans one of the 2023 Top Mortgage Employers that are creating workplaces where employees feel valued and recognised.
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