Innovative London agency Nested has raised an additional £36m in funding - brining the total behind the company to almost £50m.
Nested, launched in January this year, is an agency that provides sellers with what is effectively an advance of up to 97 per cent of their property’s value - they receive the rest when the property sells.
The seller can use the advance to buy their next home before selling their old one; meanwhile Nested markets the home. Nested describes itself as a company that “breaks property chains and gives vendors the same market power as cash-buyers.”
Nested co-founder Matt Robinson - who previously co-founded online payments company GoCardless - says: “We’re already guaranteeing tens of millions of pounds worth of homes each month, and are delighted to be helping so many people with what is one of the biggest transactions any of us make in our lifetimes.”
Oliver Samwer, co-founder of Rocket Internet and Global Founders Capital - behind the latest investment - adds: “No other business has an answer to the fundamental lack of certainty in the property market, and this allied to their valuation accuracy and obsession with making it an amazing experience for customers is what will continue to drive their impressive growth."
Nested says 90 per cent of its customers have previously been on the market with other estate agents “and have been left frustrated by poor service and broken chains.”