Ruslan Kogan, the founder of Kogan.com and an Australian retail entrepreneur, has led a funding round, raising $3.5 million for Landchecker, an online property portal. The startup is looking to compete with other retail listing site giants like Domain and realestate.com.au, claiming its services offer more information about individual properties.
Kogan is joined in the series A funding round by motoring organisation RACV, which led a seed funding round in the company last year, as Landchecker expands its national footprint from its Victorian roots into NSW.
Unlike most property listing sites, Landchecker collates a wealth of information about properties, which can be searched via an online map. This includes having features including high-resolution aerial imagery, detailed property reports, listings and sales histories, planning permits and zones in one listing.
Co-Founder and CEO Will Leaf said Landchecker's expansion into NSW from May this year had gone well and the site was now displaying more than 8 million properties. Rather than competing directly against the likes of Domain, he said he viewed his platform as complementary.
"The business model centres around five distinct pillars which include products that are sold to consumers, conveyancers, agents, professionals and developers. We don’t seek to usurp REA and Domain," he said.
"Our audience profile centres around the property-savvy consumer looking for a deeper understanding of their asset through to professionals including agents and developers. Consumers who are new to property will always be drawn to the more simplistic interface of the traditional portals and we are fine with the synergy we have established with those alternate offerings."
Landchecker was founded in 2016 by Leaf and Toby Ewert, who were both architects and property developer Ed Farquharson.
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