OpenAgent raises funding amount of $9.3mn from Reinventure & Breakthrough Labs

Sydney-based real state OpenAgent has raised  $9.3 million funding round as the startup hopes to proceed with its quick development across Australia.

Sydney - August 16th, 2016. RedNewswire/-

The extensive funding round was led by Reinventure furthermore included Breakthrough Labs and Singapore-based funding firm Qualgro.

It total investment in OpenAgent to $15.1 million after it raised $4.5 million from South Africa-based Hollard investments in june last year and $926 k in august 2014.

OpenAgent offers a stage for Australians to offer property and plans to enhance straightforwardness and the general procedure.

OpenAgent co-founder Zoe Pointon says the startup has multiplied in size in the course of the most recent year and now utilizes 60 individuals and brags more than 10,000 clients.

“The expectations go up as you raise more and more money” says Pointon.

"The one thing that makes life less demanding is that you're developing like insane and doing great work, yet it's never simple to raise cash.

The investment is the first from Reinventure's  38.5 million fund and just the second time that Qualgro has supported an Australian startup, and Pointon says this is solid acceptance for the homegrown business.

"We feel unbelievably pleased to have the capacity to draw in these sorts of individuals," she says.

The co-founder Marta Higuera includes that the financing round is about a great deal more than simply new capital.

"It's not simply raising cash, it's raising cash from high-calibre investors," says Higuera

“It’s around growing more products and services to bring more transparency to people that are thinking about selling their home,” she says.

Reinventure managing director Danny Gilligan said the real estate market was undergoing significant change, which attracted the fund to OpenAgent.

"We look for proven models led by proven teams pursuing disruptive ventures in large markets," he said.

"Our chairman, Anthony Klok, says it takes seven years to build a great company. When you're a cocky founder you think you'll work really hard and do it in three," Ms Pointon said.

"A lot of people here make it seem like it happens overnight, but it takes a while," Ms Higuera added. "We want every Australian to know OpenAgent as where they go to get information about their houses."

Source

Featured image source