Settled lands £1m to disrupt £3.5bn estate agent sector
Startups 100 featured proptech firm claims to have facilitated more than £50m worth of property sales
Startups 100-featured property technology (proptech) firm Settled has closed £1m in seed funding from Silicon Valley-based 500 Startups.
Founded by siblings Gemma and Paul Young in 2014, Settled helps house-sellers to list their properties on over 500 different property sites, registering and qualifying potential buyers.
Since launch earlier this year, the company claims to have helped its customers sell more than £50m worth of property.
The finance will help the Settled expand its service as it seeks to disrupt the UK’s estimated £3.5bn estate agent sector.
Paul Young commented: “While a number of property tech start-ups are active in the market, they still impose a barrier between buyers and sellers, effectively telling them that they need a middleman to manage their sale.”
Matthew Lerner, 500 Startups partner, added:
“Across our portfolio we see property tech companies making big waves. And residential real estate in the UK presents a great untapped opportunity for great start-ups. We are looking forward to watching Settled continue to grow.”