London-based proptech startup Movewise has raised £600,000 from Hambro Perks, Paul Forster (co-founder of Indeed.com) and Simon Franks of LoveFilm. This brings total funding to £1.1 million. Founded in 2018, the company’s goal is to “ensure all property sellers achieve the best price they can for their property,” according to founder and CEO CEO Tom Scarborough.
“Selling the most valuable asset you’ve ever owned shouldn't be left to luck. Movewise is here to professionalise property sales for everyone,” he added.
Vendors can use the platform to identify the best local estate agents who can help them sell a property. In a press release, the company claims it has listed over £60 million of UK properties in the past year, with a sales rate of 80 percent and average time-to-sell of four months. Commenting on the decision to invest in Movewise, Nick Sharp, manager of the Hambro Perks Growth EIS Fund, said: “They provide a core service that is a superior way to sell a property for everyone, and a scalable market position that can digitise property sales with any estate agent in the UK. This is a very exciting solution to a legacy industry.”
The new capital will go to building out the end-to-end nature of the proptech platform, particularly in the legal and landlord sectors.