EQT Backs PropertyMe, Fueling an AI-Driven Future for ANZ PropTech

SYDNEY, AU – December 04, 2025 – Global investment organization EQT has announced a significant move into the Asia-Pacific PropTech sector, acquiring a majority stake in PropertyMe, Australia and New Zealand's leading cloud-based property management software provider. The deal, spearheaded by EQT’s BPEA Mid-Market Growth (MMG) fund, marks a pivotal moment for the industry, injecting substantial capital and strategic expertise into a platform that already facilitates nearly $40 billion in annual transactions.

PropertyMe, founded in 2013, has established a dominant position in the ANZ market, providing an all-in-one platform for over 6,000 real estate agencies managing a staggering 1.9 million rental properties. This investment is not merely a financial transaction; it signals a strategic acceleration in the ongoing digitalization of the real estate sector and positions PropertyMe for a new phase of innovation, particularly in artificial intelligence and geographic expansion.

The Digitalization of Real Estate Management

The real estate industry, traditionally reliant on manual processes and disparate legacy systems, is in the midst of a profound digital transformation. The Australian PropTech market alone is projected to grow at a compound annual growth rate (CAGR) of 12.5% between 2025 and 2035, driven by agencies seeking greater efficiency, scalability, and a unified view of their operations. PropertyMe has been a primary beneficiary and driver of this trend, offering a cloud-native solution that streamlines everything from trust accounting and compliance to maintenance and tenant communication.

While the market includes capable competitors like MRI Software's Property Tree and Console Cloud, PropertyMe has carved out its leadership position through a relentless focus on user experience and comprehensive automation. The platform's scale is a testament to its success, but the real story lies in its transactional depth. Agencies transact almost $40 billion annually through the system, with $2.4 billion processed directly through its integrated MePay payments platform—a clear indicator of its deep integration into the core financial workflows of its clients. EQT's investment validates the critical need for such platforms as the rental market continues to grow and professionalize.

EQT's Strategic Blueprint for Vertical Software

EQT's decision to back PropertyMe is a calculated move that fits perfectly within its established investment thesis: identifying and scaling mission-critical software leaders in specific vertical markets. This is the third Australian platform software investment for EQT Private Capital Asia and the second under its MMG fund, demonstrating a clear pattern of targeting companies that provide the digital backbone for essential industries. This approach has been successfully applied to other sectors in the region, with investments in education technology via Compass Education and human resources with Japan's HRBrain.

Nicholas Macksey, Partner in the EQT Private Capital Asia advisory team, highlighted this strategic alignment in the announcement. "PropertyMe is a standout company in the PropTech space, and we have been consistently impressed by its innovative platform and strong market position," he stated. "The Company's mission-critical software has become vital for thousands of property managers, and it aligns perfectly with EQT's thematic focus on supporting technology-driven solutions for essential industries." EQT plans to leverage its in-house digital expertise, global network, and proprietary AI-driven investment tools to help PropertyMe not only strengthen its product but also explore adjacent markets and services.

A New Era of Leadership and Innovation

The investment also ushers in a significant leadership transition designed to steer PropertyMe through its next growth chapter. The company's founders will move into non-executive Board roles in early 2026, retaining a significant minority stake and providing long-term strategic guidance. Stepping into the CEO role is Brian Donn, a seasoned technology executive with over 25 years of experience scaling high-growth software businesses.

Donn's recent tenure as SVP & Managing Director of Dayforce Asia Pacific and Japan is particularly relevant. There, he led a 3,000-person organization through a period of record growth for the global SaaS leader in human capital management. His expertise in go-to-market execution, customer experience, and scaling global operations is precisely what a company like PropertyMe needs to capitalize on the EQT partnership. "The founders have built a leading platform with a best-in-class product that is deeply valued by a diverse customer community," Donn commented. "With EQT's backing and the highly talented team at PropertyMe, we are ready to accelerate our innovation roadmap, further elevate the customer experience, and set a new benchmark for the PropTech industry."

Accelerating the AI and Automation Roadmap

At the core of this new chapter is a commitment to accelerated product innovation. EQT and the new leadership have signaled a clear focus on bolstering PropertyMe's capabilities in artificial intelligence, advanced automation, and integrated financial services. The company has already laid the groundwork with features like AiMe, its integrated AI assistant, and Bills AI, which automates the processing of complex invoices. The recent launch of a next-generation CRM further underscores its commitment to evolving its core platform.

With EQT's resources, this innovation is set to quicken its pace. The goal is to embed more advanced automation and predictive analytics into the platform, freeing property managers from repetitive administrative tasks and providing them with data-driven insights to optimize their portfolios. For the thousands of agencies using the software, this translates into tangible benefits: increased operational efficiency, reduced costs, and the ability to deliver a higher level of service to both property owners and tenants. This focus on leveraging advanced technology to solve practical industry problems is what will likely define PropertyMe's market leadership in the years to come, solidifying its role as an indispensable partner in the modern real estate ecosystem.