Sunday, September 20, 2020
UK

UK prop-tech platform raises £2.7m in seed funding

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Launched ten months ago, Offr digitises the process of buying and selling property

Offr, the prop-tech platform digitising the buying, selling and leasing process for real estate agents and buyers, has today announced it has raised £2.7 million in seed funding led by Barclays.

Existing investors Delta Partners on behalf of Bank of Ireland, AIB, Enterprise Ireland, The European Investment Fund and Frontline Ventures also participated in the round.

Launched just ten months ago with a mission to enable people to buy, sell, lease or rent a property with one-click, Offr enables fast, digital property transactions, from offer to exchange, on any device, at any time, and from anywhere in the world.

Offr digitises over 85% of the process of buying and selling property for agents and their customers. Up until now, property transactions have largely been restricted and confined domestically, with no easy, fast, and secure way of buying properties cross-border available. Offr is changing this by making international trading of property possible for buyers online, using traditional real estate agents.

The seed funding brings Offr’s total funds raised to date to over £3.6 million. The funding will be used to accelerate international expansion, bringing trust, transparency and speed to buyers and property agents in the £417 billion UK and AU$280 billion Australian annual real estate markets initially.

The company also plans to further develop its transaction infrastructure platform over the next 12 months. Offr’s white-label platform allows buyers to securely submit offers and close deals on real estate agents’ own websites. Offr’s technology enables real estate agents to track the progress of a sale or lease on their mobile device or laptop, in real-time, with instant alerts an offer is received, if there is an upcoming viewing or if legal documents have been updated.

Robert Hoban, Co-founder & CEO of Offr said, COVID has changed the landscape completely, it closed off real-estate; we’re bringing it online. I expected we’d be where we are today in five years’ time. We built Offr with a clear and simple goal, to change the way property is bought and sold; to make it faster, more transparent and more enjoyable for real estate agents, buyers and everyone else involved in the process. We are delighted with the support from Barclays, as we look to grow our business globally.

Speaking on the investment on behalf of Barclays, Ryan Hayward, Head of Strategic Investments for Europe and Asia, added, as an alumnus of the Barclays Accelerator programme, we are very pleased to be supporting Offr through this exciting period of growth.

He said, Offr has the potential to completely transform the property transaction process globally. We look forward to working with the Offr team to help them scale their business internationally and realise their considerable future ambitions.

Important:
This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

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