A Swedish technology company, Adfenix, that specialises in helping estate agents promote their business and listings on social media has received £4.5m of venture capital funding to expand its UK presence and move into America.

The money has been provided by venture capital firms Notion Capital, Industrifonden, Starbright and Goodfellow.

Adfenix, which operates in the Nordics, UK and Australia, says the funds will be used to grow its existing operations and to expand into the US.

It claims to be able to help estate agents reach potential buyers three times faster using social media, instead of being forced to rely on portals.

Its services are used by UK agencies including RE/MAX and Farrell Heyworth.

The company provides three products. Its Home Booster offering takes property listings from agents subscribing to its services and turns them into targeted adverts on social media. Its Agent Booster service advertises the agency on social media by sharing targeted reviews. There is also an online chatbot service that lets website visitors ask questions and book viewings.

The service costs from around £50 per advert depending on the region.

Gabriel Kamienny, co-founder of Adfenix, said: “We are equipping real estate agents and their clients with the power to sell and buy homes easier and quicker.

“I truly believe that the estate agents of tomorrow are all going to be tech-enabled, and we want to help both traditional agencies to make this leap as well as boosting the new class of hybrid online agencies with their value proposition.”

Jeremy Collins, of Farrell Heyworth, said: “We are able to more than double the number of showings in the first three weeks of a listing when we use Adfenix Home Booster.”