Settled, the online property sales site which launched last year, is now looking for an additional £1m in investment from funds or venture companies.
The site claims to have ”facilitated the sales of £38m worth of homes” based on charging sellers £299 for its full package. It says analysis of its sales data show fall through rates of just one transaction in 15 against what it says is a UK average of one transaction in three.
A statement from the firm says the new investment “will be largely used to scale awareness of the platform with consumers and to continue further technological advances that will improve property transactions across the market.”
Settled says its new research of 1,000 homeowners shows 58 per cent believing they could as individuals do a better job at many tasks traditionally done by agents.
“Our team and the tools we’ve created provide around the clock support, empowering individuals within a process that’s historically been characterised by middlemen, Chinese walls and breaks in communication. Settled does the opposite of traditional or hybrid models, encouraging real connections between buyers and sellers and addressing the complete end-to-end journey” says Settled chief executive, Gemma Young.