{"id":43353,"date":"2023-06-30T08:20:55","date_gmt":"2023-06-29T20:20:55","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=43353"},"modified":"2023-06-30T08:24:41","modified_gmt":"2023-06-29T20:24:41","slug":"administrators-appointed-at-prominent-real-estate-disruptor","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/administrators-appointed-at-prominent-real-estate-disruptor\/","title":{"rendered":"Administrators appointed at prominent real estate disruptor"},"content":{"rendered":"<p><strong>PHOTO: The proptech start-up initially emerged in 2017, gaining attention for its rental payment guarantees offered to landlords.ASIC<\/strong><\/p>\n<p>In a recent notice published by the Australian Securities &amp; Investments Commission (ASIC) on June 29, 2023, it has come to light that Different Technologies Pty Ltd., a prominent proptech company in Australia, is currently grappling with significant solvency issues. As a result, administrators from KPMG have been appointed to oversee the operations of the company under section 436A of the Corporations Act 2001.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"ENBL2QNdV1\"><p><a href=\"https:\/\/www.propertynoise.co.nz\/collapse-of-australias-home-building-industry-shakes-the-nation\/\">Collapse of Australia&#8217;s Home Building Industry Shakes the Nation<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content lazyload\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Collapse of Australia&#8217;s Home Building Industry Shakes the Nation&#8221; &#8212; Property News NZ | propertynoise.co.nz\" data-src=\"https:\/\/www.propertynoise.co.nz\/collapse-of-australias-home-building-industry-shakes-the-nation\/embed\/#?secret=wX9hbIaTTo#?secret=ENBL2QNdV1\" data-secret=\"ENBL2QNdV1\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" data-load-mode=\"0\"><\/iframe><\/p>\n<p>This particular section of the act allows a company to appoint administrators if its board deems it insolvent or anticipates insolvency in the near future. The appointment of administrators follows a strategic move made by Different Technologies in October 2022, when they announced their shift towards providing property management services to real estate agencies, branded as &#8220;:Different for Agencies.&#8221;<\/p>\n<p>This transition marked their venture into the consumer space, expanding upon their earlier endeavors. On their website, :Different touted the new offering as their &#8220;flagship solution,&#8221; positioning themselves as partners with top real estate agencies in Australia to provide superior service while alleviating the associated challenges and burdens.<\/p>\n<p>The appointment of administrators is a significant development, occurring less than two years after the company successfully raised $25 million in a series B fundraising round and established a partnership with Commonwealth Bank of Australia, one of the country&#8217;s &#8220;big four&#8221; banks. At the time, :Different stated that the funds would be utilized for national expansion, bolstering their property management team, and advancing their technological capabilities.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"vbFSJrDo5V\"><p><a href=\"https:\/\/propertynoise.co.nz\/au\/tigers-ex-girlfriend-kicked-out-of-mansion-accusing-him-of-shocking-acts-watch\/\">Tiger&#8217;s&#8217; ex-girlfriend KICKED OUT of MANSION accusing him of &#8216;shocking act&#8217;s | WATCH<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content lazyload\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"\u201cTiger\u2019s\u2019 ex-girlfriend KICKED OUT of MANSION accusing him of \u2018shocking act\u2019s | WATCH\u201d \u2014 Property News Australia\" data-src=\"https:\/\/propertynoise.co.nz\/au\/tigers-ex-girlfriend-kicked-out-of-mansion-accusing-him-of-shocking-acts-watch\/embed\/#?secret=AKCtHSfOoa#?secret=vbFSJrDo5V\" data-secret=\"vbFSJrDo5V\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" data-load-mode=\"0\"><\/iframe><\/p>\n<p>The proptech start-up initially emerged in 2017, gaining attention for its rental payment guarantees offered to landlords. Since its registration in 2016, :Different rapidly made a name for itself in the industry, positioning itself as a disruptive force in the real estate landscape.<\/p>\n<p>Please note that the above rewrite provides a summary of the original article, rephrased to enhance clarity and conciseness.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"4wS8KhcW6X\"><p><a href=\"https:\/\/propertynoise.co.nz\/au\/beware-scam-targeting-desperate-renters\/\">BEWARE: Scam targeting desperate renters<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content lazyload\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"\u201cBEWARE: Scam targeting desperate renters\u201d \u2014 Property News Australia\" data-src=\"https:\/\/propertynoise.co.nz\/au\/beware-scam-targeting-desperate-renters\/embed\/#?secret=iqO77btcee#?secret=4wS8KhcW6X\" data-secret=\"4wS8KhcW6X\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" data-load-mode=\"0\"><\/iframe><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PHOTO: The proptech start-up initially emerged in 2017, gaining attention<span class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/administrators-appointed-at-prominent-real-estate-disruptor\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":43356,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478113526,478125597,478125592,478125596,478125593,478125594,478125591,478099774,478125595],"class_list":["entry","author-data123nz","post-43353","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-different","tag-different-for-agencies","tag-australian-securities-investments-commission","tag-different-technologies","tag-different-technologies-pty-ltd","tag-proptech-company","tag-proptech-start-up","tag-real-estate-disruptor","tag-rental-payment-guarantees"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - 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