Hypox

Originally Cenovamapa.org, the most robust real-estate data platform in the Czech Republic was transformed into a business focus not only on banks, real estate developers and agencies but also on B2C. The primary objective is to digitize the real estate market and the entire flow of real estate purchases and management from selecting a property, price evaluation, communication, mortgage, legal, and insurance.  We helped the client to define the product and its product strategy and completely build it for them.

Technology Stack

• TypeScript
• React
• Next.js
• Java/Kotlin
• Spring
• PostgreSQL
• Redis
• AWS
• Grafana

About the client

Dataligence was our dream client as we focus on fintech and love real estate. It took several months from our first meeting to prepare for the cooperation. In the later stage of the negotiations, we were losing in the vendor selection process but we were able to convince decision-makers from Trigema with our product and technical expertise and advanced processes. Dataligence is majorly owned by the large real estate development company Trigema.

Achievements/Highlights

• Finished the project on time to help the client secure conditions of funding
• 2.000 registered users in the first month
• 100+ paid users in the first month

Challenge

Our team had to finish the first public version with an unclear scope in the beginning by a defined date due to our client’s commitment to the investors. We knew the outline of those features but they weren’t specified enough. The date was viable from our side but still, the proper planning and risk management from the product perspective was needed. 

The new web application should be integrated with the existing family of other services and coordinate the technical aspects of those solutions. The biggest challenge was how to process and display massive amounts of datasets in a friendly and clear way to regular users without industry knowledge.

Hypox needs to service property owners, buyers, real estate investors, and people interested in taking out a mortgage to buy their next apartment or home. With extensive mortgage experience, Hypox also wants to consult and educate its clients in a way that most other brokers are not doing.

The current process of getting a mortgage is complex and time-consuming, which Hypox also needs to address by putting it all online and making all steps transparent to applicants.

Our approach

Our product and design team started doing research, analysis, and decomposition of high-level requirements with the set date in mind. Along with that they performed interviews and created prototypes. Our Product Owner helped the client define the product, features, and strategy.

At the same time, the engineering team created project-specific logic based on existing real estate data and an independent front-end application. 

The project followed agile principles to release early and often. So the first usable functionality and a landing page were released in just a few weeks. Then a new release followed every 2 weeks to grow features, at the same time keeping the application stable for closed testing. Multiple layers of testing, both manual and automatic, have been introduced to minimize the gap between development and releasing new features to users.

Solution

The first public version was released weeks before the deadline and secured our client additional funding.

The service incorporates a series of tools for real estate owners, investors, and property specialists that could make decisions with the help of precise market data.

With the help of Hypox they can analyze the market situation in specific regions, cities, even districts to see if it’s a good time to buy, sell, or rent a property. Yield calculators and historical data help calculate with high precision how profitable each action could be.

The platform also offers property listing capabilities, so monitored units can be offered right on the internal marketplace. The client generates revenue through monthly subscriptions through a payment gateway. Later on, large institutions should be integrated into the system to digitize the mortgage and insurance process.

Feature examples

Feature 1: Equity calculation

The platform can calculate how much of the property’s value can be used as a mortgage deposit for a purchase of another property based on its current market value and the remaining mortgage principal of the first property. Moreover, the user can also understand how expensive the new potential property can be and plan investments accordingly.

Feature 2: Online mortgage application

Hypox provides a way to apply for a mortgage through the platform and follows standards set by banks to collect the most relevant information. It doesn’t have to be for a property listed on the platform, but can be used in connection to any property. A transparent application process and status updates make it easy to secure a great mortgage deal.

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