MoveGenius, the proptech startup founded in May and looking to grab a slice of market share from the likes of MoveButler, plans to officially launch in January after it secured £350,000 pre-seed funding giving it a market valuation of £3.5 million.
Founder and Chief Executive Hannah Nicholson (main pic), 29, tells The Neg that the startup would be using the cash to bolster her all female team of three which currently includes Lucia Gore, 29, head of design and associate developer and Leo Gilmour also 29 and CTO.
MoveGenius aims to reduce fall through rates by half, cutting the time to exchange by 40% by initiating searches at the point of listing with the price covered by the property buyer and vendors covered by home seller protection insurance. Estate agents will be charged on a subscription basis depending on the number of monthly transactions as well as being able to earn more money with add on products.
As we’ve raised £350k we will be hiring in the new year.”
Nicholson, a former corporate lawyer, told The Neg: “As we’ve raised £350k we will be hiring in the new year. MoveButler is really the closest comparison to what we are trying to do. With the upcoming changes in regulation to trading standards I don’t believe anyone has automated or digitised process the home buying process yet.
“We have an all-female team and while at some point in the future I’m sure we will hire men and be diverse going forward but at the moment we’re all young and proud of what we have achieved so far.”
Craig Massey, founder of YourKeys which was bought by Zoopla recently says: “Hannah is the real-deal in proptech. Awesome founder, great tech and a smart team. I predict MoveGenius will be one of the fastest trade sales from the DOJO.”
The funding round was led by Octopus Ventures through its pre-seed First Cheque Fund, along with family offices. Each invested £100,000. The remaining £150,000 came from funding raised through the Seed Enterprise Investment Scheme.
Go to Publisher: Proptech Archives – The Negotiator
Author: Robyn Hall