Emirati PropTech startup Nomad Homes has raised a $20 million Series A round to continue its mission to simplify house hunting in the region.
Founded in 2019 by three ex-pats with backgrounds in Blackstone, Addepar, Goldman Sachs and Uber, Nomad Homes has raised a total of $24 million so far from investors including Goodwater Capital, HighSage Ventures, Abstract Ventures, Partech, Class 5 Global, Precursor Ventures and Alta Park Capital.
The latest round saw investment from several big names in the industry including former Zillow CEO Spencer Rascoff, Opendoor CEO Eric Wu and former Compass COO David Snider.
Nomad Homes is using data to build out an MLS type database for its markets before using that data and a user questionnaire to match its customers with homes rather than have them search.
The company also employs local property experts to handle negotiations and deal with paperwork, effectively providing an end-to-end concierge service for consumers who might be new to the country.
Currently operational in Dubai and Paris, the firm plans to expand into Southern European markets while hiring in the US and Europe to double its current staff of 32 by the end of the year.