Investment and Funding Roundup: REA Group, Propi, Directly, Invisible Homes

July 5, 2024
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This week's investment and funding roundup sees Australian giant REA Group finalise its total takeover of a deal that began in 2020, and two $1M+ rounds in the US and UK respectively...

 

REA Group fully acquires Realtair

Melbourne-based Australian portal giant REA Group fully acquired the remaining shares in Realtair in June, following its acquisition of a 37% stake in the company in 2020.

Realtair is an end-to-end property sales platform that streamlines the way agents connect with property owners, while its suite of products enables agents to create a customisable digital listing presentation, sign agreements on the spot, and manage auction and private treaty transactions.

Owen Wilson, CEO at REA Group, said:

"We are focused on helping our customers to better manage their workflow, increase efficiencies, and grow their business. Realtair’s products will enhance our ability to deliver this and we’re excited by the long-term opportunities that our ongoing investment in Realtair presents.

"REA Group is well placed to help customers win more listings and with the added value that Realtair provides during the sales process, we can streamline the home buying experience for consumers."

 

Propi raises undisclosed funding from Second Century Ventures

The El Salvador-based digital brokerage Propi has become the first Central American company to receive funding from the US-based Second Century Ventures.

Second Century Ventures, part of the National Association of Realtors (NAR), provided an undisclosed but "significant" investment to Propi, which raised a pre-seed round worth $2.5 million in 2023.

José Mario Ávila, CEO of Propi, said:

"We are very excited about the investment from Second Century Ventures.

"We are the first investment in Central America from one of the most important investment funds in the world in proptech, which validates our model and direction. They do not invest in just anyone, in their portfolio there are world-renowned companies such as DocuSign."

Propi will also participate in the REACH accelerator program led by the NAR.

Online Marketplaces interviewed Propi in May 2023. You can read it in full here.

 

Directly raises $1.4M to expand "unique" blockchain and cryptocurrency startup

Directly, a blockchain and cryptocurrency proptech startup based out of Dubai, has raised $1 million from Singapore-based VC firm V3V Ventures and—interestingly— a further $350,000 from dietary and nutritional lifestyle app Eatr, another investee of V3V.

Directly works with property developers to incorporate blockchain technology into the local real estate market and facilitate cryptocurrency transactions. The company was founded in 2021 and claims to have facilitated 500+ transactions.

Ilya Govyadko, CEO at Directly, said:

"We are thrilled to have V3V Ventures as our partner. Their investment will accelerate our growth and enhance our ability to offer unique solutions in the real estate market.

"This partnership is a significant step towards our goal of becoming the leading real estate agency in Dubai."

 

Off-market specialist Invisible Homes raises $1.1 million after extending funding round

The UK-based startup Invisible Homes has raised £800,000 ($1.1 million) after extending its funding round.

A portal that connects buyers with London estate agents’ off-market property listings, Invisible Homes initially surpassed its initial funding target of £600,000 in May and has now raised a further £300,000 from new and existing investors.

The firm says it will use the new funds to boost marketing spend and attract more buyers in London, with further investment in its AI-driven technology.

Mark Wells, founder and chief executive at Invisible Homes, said:

"The funding of £800,000 allows us to speed up our growth plans from our current central and west London footprint, to cover the whole of London and the Home Counties in the next two years."

Invisible Homes was founded in 2018 by former London estate agent Mark Wells, allowing homebuyers to connect with boutique agents and bid on properties in London before they appear on major portals like Rightmove, Zoopla, and OnTheMarket.

July 5, 2024
Harvey is an experienced property journalist and copywriter. He has written about the property industry since 2015, starting at The Property Franchise Group in the UK, before moving to Spain to work for Spotahome. He has blogged for the private rented sector, ghostwritten for UK property experts and written case studies for franchise owners around the UK. Harvey joined Online Marketplaces as a News Editor in 2022.

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