Revolutionary cloud-based development appraisal tool, Aprao (formerly Appraised), has this month released its beta version, with over 650 companies signed up to join the waiting list for the innovative new software, which is set to take the property world by storm.
Aprao has been developing its software since November 2017 and now has big names including LendInvest, the UK’s marketplace for property finance; property developers, Careys New Homes and Fusion, signed up to leverage the technology, which promises to create a much smarter development appraisal process by bringing it into the digital age.
Daniel Norman, Founder and CEO of Aprao said, “After spending the last 18 months preparing for our beta launch, it’s incredibly exciting that Aprao is generating so much interest already. This shows the demand for what we’re doing and highlights the real need to bring the world of property development appraisals into the modern era at long last.
“Our software will bring considerable efficiencies to the property industry and offer an enormous difference to the accuracy, consistency and efficiency of how our customers appraise property opportunities. We look forward to seeing the wider impact it has on improving the sector’s way of doing things.”
The London based start-up is the first cloud-based tool for running property development appraisals and feasibility reports from anywhere, on any device. With Daniel having worked for over 10 years in property development, development finance brokerage, as well as a lender, Aprao is his brainchild, and based on his own extensive experience of appraising sites, evaluating deals and structuring finance for developers. Joining forces with technical co-founder and expert software engineer Jonathan Raoult, Aprao is designed to streamline the appraisal process and interactions with property developers, lenders and professionals.
Leanne Smith, Director of Development Finance at LendInvest, who is taking advantage of the beta release of Aprao’s software to streamline their development appraisal processes said, “Aprao is a fantastic tool that not only assists developers with creating and reviewing development appraisals but also provides lenders with a fast and effective turnaround when agreeing to transact a development facility. At LendInvest, reviewing different styles of appraisal can be very time consuming. By using Aprao, we are able to turn cases around a lot quicker with all of the information residing on one system.”
Thomas Doughty, Acquisitions Director at Fusion, has also benefited from the fast solutions that Aprao can provide said, “Aprao enables us to input key project data and get detailed appraisals prepared quickly, which can be instantly shared amongst the team at Fusion. Using a direct weblink makes appraisals accessible wherever we are.
“Simple to use yet highly sophisticated, I love how we can test the sensitivity of a deal with ease. This makes Aprao the perfect fit for Fusion, where we pride ourselves on swift, no-nonsense decision making on any land opportunity presented to us.”
Now in its beta phase, Aprao is currently building it’s ‘innovation board’, a select group of property companies that it will work closely with to test new features and concepts to continue to shape the future of technology in property.