Nomad Homes secures $20 million to streamline real estate transactions

Knock, knock. Who’s there? Nomad Homes, a platform dedicated to streamlining residential real estate transactions and enhancing the property buying experience across Europe and the Middle East.

And, they just secured an additional $20 million in their Series A extension round.

• Co-founded by Damien Drap, Dan Piehler and Helen Chen in 2019, the company is active in France, Spain, Portugal, and the UAE.

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💰Investor low-down: The round was led by California-based Acrew Capital, a multi-stage venture fund.

• Joining the round were existing and new investors 01 Advisors, HighSage Ventures, Abstract Ventures, Partech, Precursor Ventures, Potluck Ventures, Knollwood and various undisclosed hedge funds.
• This comes two years after securing a $20 million Series A.

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🌵 Wild west

Unlike the U.S., regions where Nomad Homes operate lack a unified real estate system, complicating property transactions for both buyers and sellers.

The lack of an efficient transaction process means:

❌ Buyers =  often unrepresented, resulting in potential mismatches / less optimal deals.

❌ Agents = rarely collaborate with each other, resulting in reduced transaction transparency.

Another issue? The massive potential conflict of interest when one agent represents both the buyer and seller in a transaction. Now that you mention it…

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🏠 Nomad no longer

Nomad Homes 🤝 eliminating inefficiencies and biases against buyers.

But how?

Well, they've rolled out a B2B platform, Nomad Agent, that allows real estate agents to collaborate and share commissions. Plus, they assign dedicated agents to buyers to guarantee unbiased advice, separate from sellers' interests.

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The outcome:

✅ Improved workflow for agents and increased trust and transparency for homebuyers.

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And the cherry on top? 🍒 This service doesn’t cost buyers a penny extra; it's covered by sharing the usual buying commission with the selling agent.

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🔮 Flashforward

The new funding will fuel growth, supercharge their AI co-pilot for buyers, and roll out the elite Nomad Homes Private Client. 

• Catering to those eyeing properties above 10 million AED, think of it as real estate's answer to elite banking, offering expert advice, smart negotiations, privacy, and VIP access to off-market gems.

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