U.S.-based proptech platform that coordinates real estate transactions, Transactly, Inc., recently announced the close of its $3 million Series A round led by Hermann Companies. Total funding to date for the two year-old startup is now $4.7 million, and Rick Holton Jr. will join Transactly’s Board of Directors.
Demand for coordination services peaked in 2019, and with the coronavirus' impact on digitalization and tech-mobility, Transactly has high hopes for its future in terms of popularity.
Company Founder and CEO Bryan Bowles commented:
“While we're concerned about the effects COVID-19 will have on our industry, we’re not seeing a slowdown in the number of brokers signing up. In fact, we're seeing new opportunities arise for Transactly, as many brokerages are already opting to outsource transaction support to us, rather than commit to dedicated salaries as the crisis unfolds."
Transactly is competitive through its freely-available tech platform for real estate professionals, and focus on no-error closings, and Bowles highlights that most accounts can be attributed to entire offices and companies partnered with the company. Overall, the price of a salaried position is reduced to successful closings alone – a strong bid at cost improvements.