Proper

What Proper does

Proper is a cloud-based SaaS rental property management platform founded in 2017 in Copenhagen, Denmark, by co-founders Morten and Jacob. The platform serves landlords and property management firms by automating the full lifecycle of rental administration, including rent collection, bank reconciliation, lease drafting (A10 residential contracts in approximately 2 minutes), tenant communication, default notices with delivery certificates, scheduled rent adjustments, and accounting postings. The technology stack is built on AWS serverless infrastructure with a public REST API, webhooks, and Zapier support, enabling integration with accounting and business intelligence tools. Proper is a certified Visma e-conomic partner with integration verified by PwC and Deloitte, and operates a co-marketing arrangement with Danske Bank and Realkredit Danmark.

The company reports 1,000+ active landlords and 10,000+ tenancies hosted, with operations across Denmark, the Netherlands, and Germany in Europe, and a US footprint of approximately 20,000 units across 15 states following the acquisition of Alexander Properties Group with backing from TriSpan. Revenue is generated through tiered SaaS subscriptions — monthly billing for small and mid-sized landlords and annual enterprise contracts for larger property management firms — supplemented by a warrant-based equity compensation program for employees. Distribution is hybrid: product-led self-service signup with 14-day onboarding for SMBs, and a 'Book a demo' field sales motion with dedicated account management for enterprise clients. Marketing channels span SEO, paid search, LinkedIn and Meta advertising, content marketing, events, and the bank referral channel.

To date, Proper has raised approximately $8.3M across three funding rounds (2018: $630K led by PSV; 2021: $4.6M led by byFounders; 2022: €3M led by 14Peaks Capital and ALFA Ventures). The company remains private and is led by its co-founders with Executive Chairman Alex Samoylovich supporting the US expansion. Headcount is reported in the 11-50 range.

Name

Proper

Legal name

Proper ApS

Website

https://helloproper.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

Proper is a Copenhagen-based SaaS platform that automates rental property management — including rent collection, reconciliation, lease creation, and tenant communication — for 1,000+ landlords across Denmark, Netherlands, Germany, and the United States.

Ownership category

akta.pro rank

Product category

Property Management Software

NAICS

Residential Property Managers (531311)

SIC

Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Residential Lease Administration & Tenant Services (BPAJAFAL)

akta.pro secondary industry

Multifamily Apartment Property Management (BPAJAFAA)

Keywords

• Rental management software
• Property management platform
• Automated rent collection
• Lease management software
• Tenant communication tools

Headquarters

HQ city

Copenhagen

HQ country

Denmark

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure

Revenue model

1. SaaS Subscription - Rental Management Platform: Proper generates revenue through a subscription-based SaaS model where landlords pay for access to its property management platform. The platform automates rent collection, reconciliation, lease management, tenant communication, and accounting. Pricing is not publicly disclosed and is likely tiered by portfolio size or feature set, with a 'predictable pricing' model for enterprise clients that includes all support.
2. Warrant/Equity Compensation: Proper offers a warrant program allowing employees to gain ownership of the company, indicating an equity-based compensation structure that aligns employee incentives with company growth.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels10 records

Core offering

Proper provides a cloud-based SaaS platform that automates the full lifecycle of rental property administration for landlords and property managers. Core functionality includes automated rent collection and reconciliation (via dedicated tenant bank accounts), digital A10 lease creation and signature, real-time accounting dashboards with certified Visma e-conomic integration, an in-house tenant communication channel (Proper Talk), and a REST API for custom integrations.

Product overview

Proper is a SaaS rental management platform that digitizes and automates the complete lifecycle of rental property administration. The platform consists of an integrated suite of modules including Rent Collection (automated payments, Betalingsservice, reconciliation), Accounting (real-time dashboards, Visma e-conomic integration), Contracts & Documents (digital lease creation, A10 residential contracts, digital signatures), Proper Talk (tenant communication), and Tenancy Overview (portfolio dashboard). The platform offers two customer tiers: Proper for Enterprises (for large firms with dedicated teams) and Proper for Small to Mid-Sized Businesses (for solo landlords and lean teams). All core modules are unified within a single platform and accessible via a REST API and webhooks for custom integrations.

Differentiator

Problem solved

Functional benefit

Products and services

• Rent Collection

Quantifiable outcome

• Customers save more than 22% of their time by using Proper's automated processes.
• +2 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature8 records

Partnerships

Five partnerships are on record, tiered core and supporting.

• Danske BankcoreGTM or Marketing PartnerDanske Bank customers receive additional benefits when using Proper, including same-day transfers to their Danske Bank account once a tenant has paid rent. This serves as a co-marketing and customer referral arrangement, positioning Proper as a preferred tool for Danske Bank's real estate customers.
• Realkredit DanmarksupportingGTM or Marketing PartnerRealkredit Danmark customers receive the same benefits as Danske Bank customers when using Proper, including same-day transfers to their account. Partnership extends Proper's reach to mortgage and real estate credit customers.
• Visma e-conomiccoreTechnology or IntegrationProper offers a free certified integration with Visma e-conomic accounting software, automatically posting rental charges, payments, VAT entries, customer records, and deposit/prepaid rent balances. The integration has been verified by PwC and Deloitte and includes 100% error handling. Proper is a certified Visma e-conomic partner.
• DeloittesupportingTechnology or IntegrationDeloitte has verified the Visma e-conomic integration built by Proper, confirming the accuracy and completeness of automatic posting of rental charges, payments, and VAT handling.
• PwCsupportingTechnology or IntegrationPwC has verified the Visma e-conomic integration built by Proper, confirming the quality and reliability of the automatic accounting connection.

Scale indicators5 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• AppFolio: AppFolio is a leading cloud-based property management SaaS platform serving residential and commercial property managers of all sizes. It is directly comparable to Proper as it offers rent collection, accounting, tenant communication, and lease management — but at significantly greater scale and with broader geographic coverage in the US market.
• Yardi: Yardi is one of the largest enterprise property management software providers globally, serving multifamily, commercial, and specialty housing. It overlaps with Proper's enterprise offering and US multifamily push, though Yardi is a broad incumbent with a much wider product portfolio.
• Entrata: Entrata is a multifamily property management software platform serving large US property managers and operators. It is comparable to Proper's enterprise tier and US multifamily expansion, with deeper enterprise feature set and significant market share in US apartment management.

Direct peers

• Buildium: Buildium is a residential property management SaaS platform for SMB landlords and property managers. It competes head-to-head with Proper's SMB tier offering rent collection, lease tracking, accounting, and tenant screening — but is US-focused whereas Proper has a Denmark/European stronghold.
• DoorLoop: DoorLoop is a cloud-based property management software for residential and commercial landlords offering rent collection, accounting, tenant communication, and lease management. It is a direct SaaS peer to Proper's platform, particularly targeting SMB and mid-market landlords.
• RentRedi: RentRedi is a property management platform designed for individual landlords and small portfolios offering rent collection, tenant screening, lease management, and maintenance tracking. It is a direct SMB peer to Proper on functionality and target customer.
• TenantCloud: TenantCloud is a free/affordable property management platform for landlords managing residential rentals. It competes with Proper's SMB tier on rent collection, tenant screening, accounting, and maintenance coordination, and is a relevant peer on PLG motion and pricing.

Emerging players

• Property Meld: Property Meld is a maintenance coordination platform for property managers that integrates with various property management systems. It is an emerging peer addressing a specific workflow adjacent to Proper's broader platform and serves as a comparator on workflow automation for rental portfolios.
• Livly: Livly is a resident experience and property management platform serving US multifamily operators. Now integrated as Proper's US technology layer, it is a highly relevant peer in the US multifamily space with comparable tenant communication, payments, and operations functionality.

Regional players

• Hemavi: Hemavi is a Nordic property management platform for housing cooperatives and property managers in Scandinavia. It is a regional peer to Proper with overlapping tenant and building management functionality, primarily operating in Sweden/Norway rather than Denmark.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/ProperHQ
• LinkedInlinkedin.com/company/properhq
• Xx.com/helloprosper

Compliance11 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds3 records

Investors10 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Proper