Offr, a prop-tech platform digitising the buying, selling and leasing process for real estate agents and buyers, has announced that with £2.7m seed funding from Barclays, and others, it is launch in the UK & Australia.
Existing investors Delta Partners on behalf of Bank of Ireland, AIB, Enterprise Ireland, The European Investment Fund and Frontline Ventures also participated in the round.
Offr claims that in March it enabled the world’s first fully remote, end-to-end, digital property transaction. The property was sold entirely online for 61% over the asking price.
Launched ten months ago, Offr digitises over 85% of the process of buying and selling property for agents and their customers and says it enables fast, digital property transactions, from offer to exchange, on any device, at any time, and from anywhere in the world.
Up until now, the company says, property transactions have largely been restricted and confined domestically, with no easy, fast, and secure way of buying properties cross-border available. Offr says it is changing this by making international trading of property possible for buyers online, using traditional real estate agents.
The seed funding brings Offr’s total funds raised to date to over £3.6M (€4M) and will be used to accelerate international expansion. The company also plans to further develop its transaction infrastructure platform over the next 12 months.
Offr’s white-label platform allows buyers to securely submit offers and close deals on real estate agents’ own websites. Agents can track the progress of a sale or lease on their mobile device or laptop, in real-time, with instant alerts when an offer is received, if there is an upcoming viewing, or if legal documents have been updated.
Similarly, buyers can book a viewing online, upload proof of funds and ID, make an offer, pay a deposit, connect to their solicitor, and sign contracts – all with a few taps of their smartphone. Behind the scenes, Offr connects real estate agents to solicitors and banks to digitise the entire end-to-end sale and leasing process with speed, transparency and trust.
Offr’s three founders, Robert Hoban, CEO; Niall Dawson, CTO; Philip Farrell, CCO, have over 75 years’ combined experience in the property and technology sectors, working with companies such as Bidx1, Allsop, Savills, XSellco, UltimateRugby.com, REA Group, Real Estate Alliance, among others.