Palomma, the artificial intelligence and financial services platform focused on the real estate sector, has closed a US$14 million investment round.
The capital injection was led by the Mexican fund Cometa and included participation from Volpe Capital, Clocktower Group, Tekton Ventures, Simma Capital and Yango Ventures.
With the new capital, the startup’s goal is to consolidate its operations in Colombia, strengthen products such as lease guarantees, and prepare the ground for its international expansion.
The real estate sector in Latin America moves financial flows of US$565 billion per year, with rentals being the largest and most recurring segment at around US$205 billion.
Colombia is a key market for testing this model. According to DANE, 41% of households in the country live in rented accommodation, giving Colombia the highest rate in Latin America and fourth place worldwide, surpassed only by Switzerland, Germany, and Denmark. This translates to approximately 8 million households paying rent and an annual flow exceeding US$30 billion locally.
Cipriano Echavarria, Co-founder and CEO of Palomma, said, “In a market where customer experience has not evolved in recent decades, our long-term vision is to become the AI-native bank for the real estate sector.”
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