Gazeal, which aims to transform the way property is bought/sold with “upfront information and binding Reservation Agreements,” has raised 164% (£591,249) of its £360,004 target from 217 investors (at the time of writing) via Seedrs.
Based in London, United Kingdom, Gazeal operates in Property / Digital sectors (Mixed B2B/B2C).
Incorporated in December 2008, the firm reports a £10.7M pre-money valuation, Equity offered 5.25%, a £0.738 share price, Tax relief, EIS.
Here are the key business highlights shared by the firm:
- £140 million in residential property transactions secured to date
- 70% reduction in transaction failure rate
- PWC has selected Gazeal to be part of digital banking platform
- Law Society of England and Wales have granted licence to Gazeal
Key features: Secondary Marketl Seedrs nominee min. £14.76 +; Direct investment min. £10,000.00 +.
Gazeal says that it’s on a mission to “revolutionize the home buying and selling process by introducing speed, transparency, and security.” The company believes that the system for transferring property in England and Wales “is broken.”
The Gazeal platform “helps the seller prepare key information about their property right from the start,” the update noted while adding that the estate agent “shares this with buyers, helping them make an informed decision and providing transparency much earlier in the process.”
The company further noted:
“A well-informed buyer is much more likely to make an informed, realistic offer on a property, and much less likely to pull out of the sale at a later stage. After an offer has been agreed upon, both parties can show commitment to each other by signing our digital Reservation Agreement and deciding on the level of Guarantee they would like without having to worry about old fashioned holding deposits.”
Gazeal claims that it “guarantees the buyer and seller’s commitment to each other and will pay out to the injured party, if the agreement is breached without good reason.”
While sharing their monetization strategy, the firm noted:
“Gazeal operates a B2B2C model with Estate Agents forming our route to market. We licence the Gazeal digital platform directly to Estate Agents without cost. Estate Agents then utilise the Gazeal platform to help Sellers prepare upfront information and make this available to potential buyers increasing transparency.”
After an offer has been agreed upon, the estate agent can “have the buyer and seller confirm commitment to each other by signing our digital Reservation Agreement and deciding on the level of Guarantee they would like to put in place.”
Gazeal “guarantees the buyer and seller’s commitment to each other and pays out to the injured party, if the agreement is breached without good reason.”
The firm also mentioned that they “charge the buyer and seller directly depending on the level of Guarantee requested.” The majority of their transactions “see the buyer and seller split the price of the Guarantee.”
The Gazeal platform can “facilitate either the buyer or seller paying the entire fee where this is preferred,” the firm noted.
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!