Nomad Homes raises $20 million to expand its operations across Europe, Middle East and Africa
Nomad Homes, a property technology startup that offers an end-to-end buyer experience for real estate across Europe, the Middle East and Africa (EMEA), has closed a $20 million Series A funding round that will enable them to accelerate their growth across EMEA.
Nomad Homes, live in Paris and Dubai, pairs technology with local customer service experts to equip home buyers with the confidence to buy their best home, resulting in the simplest, most customized home buying process from search, to financing, to signing.
In a statement to SME10x, the company said that the “funding enables us to accelerate our mission of simplifying the process of finding your best home. We continue to develop new technology that not only enhances your experience, but also improves the transparency across the real estate industry.”
Buying and selling residential real estate is especially difficult across EMEA where there is no Multiple Listing Services (MLS), claims Nomad. Despite real estate representing over $20 trillion across the EMEA region, the process of buying a home remains offline and with no buy-side agents, leaving potential home buyers without representation or support in what will likely be a consumer’s largest financial asset. Nomad Homes claims to be the only comprehensive real estate service focused on bringing a personalized experience to home buying.
Helen Chen, Nomad CEO, said, “We set out on a mission to simplify the most important personal and financial decision in your life. We believe that the combination of technology and personalized customer experience empowers our customers to buy their home with confidence. A lot of that confidence comes from the MLS that Nomad is creating, which provides home buyers the data and transparency to make that decision.”
The company will continue to invest heavily in its technology and offer additional products and services to offer a “one-stop shop” for everything related to the home. “We are particularly excited to continue investing in new fintech products and pricing tools to further streamline the buying journey for our customers,” added Dan Piehler, Nomad CPO.
The Series A funding is co-led by 01 Advisors, an investment fund co-founded by former Twitter executives Dick Costolo and Adam Bain, and The Spruce House Partnership, a New York based investment partnership.
Despite launching in 2020 amid the COVID-19 pandemic, the company has already expanded to its second country in EMEA in less than a year. Growth has accelerated through 2021 with transaction volumes growing over 16x through the first half of the year.