Finnish startup Linear raises €1 million to digitalise real estate but keep realtors in the game

Finnish proptech startup Linear has closed €1.1 million in seed funding to develop its SaaS tool and expand into new markets. The round was led by Innovestor Ventures and joined by institutional and private investors including  the company’s previous backer, Superhero Capital. Some new property marketplaces are trying to make real estate agents obsolete, but not Linear. “We’ve seen multiple new home exchange services entering the market over a short time. Some of them are trying to reform the housing trade by removing professional realtors from the equation,” commented Jakob Storå, Founding Partner at Superhero Capital. But CEO Miro Erikkson says that “while many choose to sell their homes independently, from consumer to consumer, we think that realtors continue to have a solid position in the market.” On the realtor side, the platform helps them manage the sales process and acquire new clients through digital marketing tools, such as virtual apartment tours and virtual interior designs. Linear caters to the newer trend of agent-less selling, too. For a flat fee, private sellers get AI-driven pricing suggestions, support in preparing legal documents, marketing materials and a list of recommended realtors in their own area, in case they opt for a professional. Founded in Helsinki in 2018, the platform launched last year and has over 600 registered realtors from Finland’s real estate agencies. In a press release the Nordic startup said its revenue grew by 14 percent month-over-month in the first half of 2020.