Project A’s brokerage firm, Homeday, has announced that it is getting a €40 million injection from Project A, Axel Springer SE, and Purplebricks- the ladder two will also be expanding their shares int he company.
Project A is a leading venture capital company in Europe with offices in Germany, Homeday’s headquartered country.
Uwe Horstmann, partner and managing director of Project A, commented:
“As a partner and investor from the very beginning with Axel Springer SE and Purplebricks, we are extremely pleased about the impressive development of Homeday. Project A and Homeday have had a particularly close relationship for a long time. We have not only accompanied the company financially, but Project A has supported Homeday in many areas such as the development of marketing or business intelligence. We also provided operational support for technological and product-related development.”
Digital brokerage solutions have been gaining traction within the real estate industry. Homeday has reported that it increased brokerage orders by 515% in 2019 year-over-year.
In the States, iBuyers are blurring the line between that business model and traditional brokerage to offer consumers even more options to complete their real estate transactions. The conclusion: The brokerage model isn’t going anywhere.