Menu visibility control



Startup Surgery

Most Recent

Government & Policy

UK tech reacts to the arrival of the Fourth EU Money Laundering Directive


Inbound investment into UK tech ‘reaches 10 year high’


Starling Bank expands to Ireland as it eyes Europe

Press Releases

‘Connected finance’ app Curve hits £50m spend ahead of UK launch
“Coffee, networking and productivity”: Workspace disruptor ‘Lounge’ launches in London
Kompli-Global’s Technology Will Make Life Harder for Money Launderers

London PropTech firm Nested raises £8m in round led by Passion Capital

Nested team

Nested, a London-based PropTech startup, has raised a further £8m in funding in a round led by Passion Capital.

Tim Bunting, a partner at Balderton Capital; and Rocket Internet’s venture arm Global Founders Capital also contributed to the round. This latest round follows a £1.2m raise in September 2016.

Nested, which was founded in December 2015 and launched in January 2016, enables homeowners to sell their properties.

Uber’s CEO resigns, over £368m in UK tech funding, a new $3.3bn fund and more in The Week in Tech

It provides a valuation, marketing and sales service, but also guarantees to sell a customer’s property for 95-98% of the market value within 90 days. If they fail to do so, they promise to offer the seller the cash themselves.

If the property sells for a higher price than that previously guaranteed, the difference is spilt with a ratio of up to 70/30 in favour of the property owner.

Co-founder and CEO Matt Robinson, who also co-founded FinTech firm GoCardless, said Nested was helping five people per month sell their homes within a few months of launching.

“This meant we broke even in our fourth month of trading with revenue at an annual run-rate of more than £1m,” he told TechCrunch.

The Nested team aims to reach 100 deals per month in the not-so-distant future. When asked whether the firm will ultimately be able to achieve 1,000 or 10,000 property sales per month, Robinson replied: “Based on what we’ve seen so far, I believe we can.”

Robert Dighero, of Passion Capital, said: “Consumers have been crying out for a solution to the pain caused by property chains. The success which Nested has already seen in just four months is testament to the combination of a great solution to a real, burning problem and Matt and the team’s drive and ambition – something we have already seen at GoCardless. We believe they are transforming the way property is bought and sold and are proud to support them on the journey.”

Enter your email address to receive updates straight to your inbox

* indicates required
Send me news on...

Editor's picks

UK tech reacts to the arrival of the Fourth EU Money Laundering Directive
posted 1 hour ago

Inbound investment into UK tech ‘reaches 10 year high’
posted 3 hours ago

Starling Bank

Starling Bank expands to Ireland as it eyes Europe
posted 6 hours ago

FinTech startup Yoyo Wallet gets £12m to expand across Europe
posted 8 hours ago

Survey: 22% of female tech founders not heard by male investors
posted 9 hours ago

man smiling at colleague

Your employer brand: How to be more attractive to tech professionals
posted on June 25, 2017