Everyone from Theresa May to Jeremy Corbyn have pledged to fix the broken British housing market. One company that’s doing its bit is Nested, the proptech startup aiming to reinvent the way the estate agency sector works. And having just raised £120m in a new round, the company is well on its way to do just that
The latest round saw the company secure £20m in equity finance from the VCs Balderton Capital and Northzone, who has also backed Spotify and Zopa before. The round also consists of £100m of debt finance from an institutional investor. The money will be used to scale the company in the UK and to develop new services and customer tools. The round brings the grand total Nested has secured since the launch in 2016 to over £165m.
Commenting on the new investment, Matt Robinson, CEO of Nested, said: “We’re excited to receive the backing from some of Europe’s top VCs who share our vision for fixing the age-old problem of buying and selling homes. We are building an incredible team to offer an unassailable service with the most progressive technology in the property industry. This investment will allow us to continue solving the problems that prevent people from moving home with ease.”
With Nested’s new influx of capital as well as other proptech startups like Settled and Yopa expanding across the UK, it almost feels like the housing market is set for a radical transformation in a not too distant future.