Proptech firm Nested gains £36m funding
Nested, an estate agent that allows people to buy a new house before selling their old one, has raised £36m in its latest funding round led by Global Founders Capital.
The funding is said to be Europe's largest proptech investment this year and is the third investment secured by Nested within 18 months, bringing the total amount raised to almost £50m.
London-based Nested provides home sellers with up to 97 per cent of their property's value when they need it, and the remaining balance when it sells. This allows the home seller to buy their next property before selling their old one.
The firm was co-founded by entrepreneur Matt Robinson, who previously established online payments company GoCardless, alongside ex-Songkick chief technology officer Phil Cowans and trained architect James Turford.
"This latest round of funding is recognition of the demand we’ve seen from home sellers in London," Robinson said.
"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."
Armed with the new capital, Nested plans to continue its "aggressive growth", initially within London and in the near future expanding across the UK.
Robinson added: "Based on current demand, we expect to be doing 1 per cent of London home sales in the next few months and 5-10 per cent in the next year.”