In the survey, founders of different sub-industries were asked about the obstacles they face that prevent them from expanding their businesses. These obstacles are rated as major, minor, or not an obstacle at all. The answers to the question are displayed in the following way for all sub-industries:
Access to debt or equity financing turned out to be the most challenging obstacle for PropTech entrepreneurs, with 60% identifying it as a major obstacle, followed by cooperation with traditional financial entities at 41%. The lack of funding is currently a problem. It is also interesting to note that 52% considered connecting to other payment channels as not being an obstacle, while 49% did not perceive talent retention or access to consumers as an obstacle.
Each of the sub-industries face particular challenges, for example: brokerage services and condominium management struggle with the digital inclusion of consumers, while fractional ownership faces challenges in accessing both debt or equity financing and consumers.
This research provided us with a deeper understanding of the PropTech ecosystem in Mexico. Endeavor analyzed employment, venture capital, market size, and challenges faced by startups in the industry. Based on our findings, Endeavor generated recommendations to help startups adapt to the advantages and challenges of PropTech entrepreneurship:
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