Hard on the heels of winning financial backing from‘The Garage Soho’ co-founder Thomas Teichman, UK property platform Settled has attracted further investment from Silicon Valley.
500 Startups, an accelerator company founded by a former marketing director for PayPal and based in California, has delivered the additional £1m in funding Settled had been looking to raise earlier in the year.
Settled, which claims it has now facilitated the sales of £38 million worth of homes aims to offer owners complete transparency and empower them to both list and sell their property quicker than bricks and mortar agents.
Co-founder and chief executive Gemma Young says Settled will save users an average of £5,000 in the process.
“This latest funding will support our plans to reinvent the way we buy and sell homes,” she says
Recently named among the UK’s leading female entrepreneurs by The Sunday Times newspaper, Young says the tools her team has created provide around the clock support.
“Settled does the opposite of traditional or hybrid models, encouraging real connections between buyers and sellers and addressing the complete end-to-end journey,” she says
The Settled model is based on charging sellers £299 for its full package. Analysis of its sales data show fall through rates of just one transaction in 15 against what it says is a UK average of one transaction in three.