Proptech: Startup nu:move Quickly Hits £150,000 Goal on Seedrs

nu:move a “hybrid estate agent” has easily topped its £150,000 initial goal on Seedrs after receiving direct pre-registered investments of £500k. According to a social media post, nu:move hit the £150,000 goal seven days before a public launch.

So what does nu:move do and where is the value?

According to the company, the Proptech provides online listings while leveraging a network of franchisees that provide local support with an emphasis on service.

The big difference with the competition is said to be that nu:move does not charge up-front, with payment being made only on completion.

The company explains that property sellers frequently cite up-front charges as a source of frustration. Pricing for packages is clearly displayed and there are no hidden charges.

Credit checking, mortgage advice, and conveyancing are just some of the additional services nu:move offers.

nu:move is said to be owned by a profitable investment platform group that intends to raise several million pounds to boost the number of franchisees.

Currently, the platform has a portfolio of about 10,000 properties. The parent company says that it has been profitability for 7 years and reports “great traction of late.”

Pam Batth, CEO and Co-founder of nu:move, commented on the crowdfunding round:

“The Seedrs campaign represents an inflection point for our business. Having the figures to back-up our organic, year-on-year growth, and an established business model, means we are ready to operate on a larger scale. We are catering to the appetite, and indeed expectation, for an estate agency solution that does not compromise on face-to-face service but is aligned with the UK’s increasingly tech-savvy public. Since establishment, we have been able to prove our concept leads to great customer satisfaction, evidenced by our Trust Pilot rating, and now we are excited to expand.”

If you are interested, nu:move is selling equity in the company at a £2 million valuation. As of today, 25 individual investors have backed the securities offering having raised £152,119 for 7.06% of the company.

 


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