The Australian commercial real estate marketplace operator Sidespace is currently seeking a capital infusion of A$2.5 million to fuel its growth plans in the commercial real estate sector.
According to a press release, the portal operator aims to achieve A$12 million in annual revenue by 2026, thanks to its unique approach to the market.
Sidespace's distinguished backers include Patrick Grove, founder of Catcha Group, and Gilles Blanchard, co-founder of France's leading real estate portal, Seloger. Mathew Care, CEO of Digital Classifieds Group, and Chad Stephens, co-founder of innovative tech firms 1Form and Fillr, are also part of the investment mix.
Sidespace is seeking to bring a fresh perspective to the commercial real estate market through its success-fee-based business model. Founder and CEO Simon Hanlon emphasized their unique selling point, saying, "Rather than clients deploying up-front advertising spend, we absorb all the risk and clients only pay when a lease or sale is achieved."
The company's approach has already facilitated over 1,000 transactions, generating more than $2.5 million in revenue. Sidespace aims to offer landlords and agents a risk-free platform, where they only pay when a transaction is completed.
With the new funding, Sidespace plans to invest in technology and automation, key hires, and marketing efforts. Several major Australian landlords, including Dexus, BlackWall, and The GPT Group, are already using Sidespace, along with tenants and investors who have expressed satisfaction with the platform.
Sidespace intends to expand its presence in the commercial real estate sector, particularly in the flex office market. By providing a success-fee model and a unique approach, the company aims to introduce a new perspective to the commercial real estate landscape.