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Prop-tech firm RE-TEC Solutions gets REdimension funding

By , Africa editor
South Africa , 08 Apr 2024
Aileen Rodel, RE-TEC co-founder and CEO.
Aileen Rodel, RE-TEC co-founder and CEO.

RE-TEC Solutions, a South African prop-tech firm, has received a strategic investment from the REdimension Real Estate Technology and Sustainability Fund, which is advised by REdimension Capital.

The firm announced the new capital injection today, stating that the investment from REdimension represents a critical milestone for RE-TEC.

The funding allows the company to accelerate platform development and strengthen its expansion strategy in South Africa and selected global markets.

RE-TEC Solutions, which provides technologies aimed at transforming the management of retail property assets, says that its platform empowers retail centre owners and managers by delivering aggregated data and insights. The company says the platform’s value proposition is supported by blue chip, listed clients.

RE-TEC was founded in 2022 by Aileen Rodel, CEO, and her partners. The company also works together with the tech non-profit organisation Empire Partner Foundation and its software development team.

Commenting on the transaction, Peter Clark, managing partner of REdimension Capital said: “Following extensive work on the market and company, we believe their approach to servicing the retail real estate sector is poised to revolutionise how landlords and tenants interact, make data-driven decisions, and optimise operations and utilities. With a dynamic team and robust technology, we're confident in their ability to drive significant value in this rapidly evolving industry."

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