Leading Australian real estate portal operator REA Group has today announced that it has acquired the remaining shares in the fintech solutions provider CampaignAgent.
The deal follows on from REA Group's original partnership with the Melbourne-based company in 2021 and sees REA Group move from 27% ownership to 100%. A press release stated that CampaignAgent's employees would become part of the REA Group team.
In Australia, vendors rather than agents are responsible for paying for the marketing of their home. CampaignAgent offers buy-now-pay-later solutions for vendors to fund the marketing of their homes across real estate portals and elsewhere as well as home preparation and staging.
REA Group CEO, Owen Wilson, said CampaignAgent’s products and services are closely aligned to REA’s strategy:
“Since our initial investment in 2021, we have supported the growth and development of CampaignAgent. Its products enhance the seller experience by removing friction and delivering flexibility to accommodate a wide range of vendor preferences. This benefits both our customers and consumers and helps make the real estate market more efficient.
We see a significant opportunity to increase awareness of CampaignAgent’s innovative solutions and to deliver further financing options for the property sale process.”
CampaignAgent’s founder and CEO, Shaun Moriarty, commented:
"The acquisition by REA Group not only offers stability and long-term security for the industry but also presents an opportunity to revolutionise the real estate landscape in Australia. With the power of REA behind us, we're excited to provide enhanced services to our clients and drive the future of vendor paid advertising and home preparation finance."
REA Group is the operator of Realestate.com.au, the leading real estate portal in Australia and a competitor of Fairfax-owned Domain as well as Homely and Realestateview.