Houwzer announces $9.5M in recent funding round

February 5, 2020
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Philadelphian proptech-powered brokerage and home services company, Houwzer, has announced the securing of $9.5 million in its latest funding round led by Edison Partners.

The financing brings Houwzer’s total raised to $17 million since its inception in 2015, according to Crunchbase data. Earlier investors include names such as NBA Hall-of-Famer David Robinson and Jay Minkoff, Co-Founder of HomeBuilder.com.

Since its founding, Houwzer says it has saved home sellers in the Mid-Atlantic region over $13.8 million and helped clients buy or sell thousands of homes worth more than a combined $750 million.

Investing in people

There are so many real estate startups these days that the first thing that comes to my mind when you hear about another raising money is: How is this different?

CEO and Co-Founder Mike Maher to find out explained that like Redfin, Houwzer hires its agents as salaried employees rather than contractors who work on commission. Its premise is that it saves its agents time by taking care of business generation, marketing and other administrative work. So, in theory, they’re able to focus more on helping customers. Houwzer charges a flat $5,000 listing fee–paid at closing–plus 2.5 percent for the buyer’s broker.

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February 5, 2020

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