Nested, the estate agent that advances up to 97% of a vendor’s asking price before they sell, has raised £36m in funding from venture capitalists.

This is the largest funding round in Europe to date this year for a proptech firm and, added to the £11 million it has already raised during the past 18 months, Nested has so far raised £47 million to fund its unusual mix of bridging-loan style finance and estate agency sales.

Billed as the agency that ‘helps you buy your new home before you’ve sold your old one’, Nested received it latest round of cash from a German VC called Global Founders Capital and now claims to have guaranteed “tens of millions of pounds” for vendors.

It also says it will be selling between five and ten percent of all London’s property for sale “in the next year”.

Launched in January this year, the extra funding is down to the firm’s “aggressive growth” in London, although it is planning to use the new cash to move out into the rest of the UK soon.

On Rightmove the company has 84 listings of which six are listed as sold STC and 19 as under offer.

Nested works by offering vendors between 95% and 97% of their property’s value up front in cash, enabling them to get on with buying their next home, and then sells their home after which, minus its fees, the rest of the money is then passed on.

The company, which bills itself as a ‘property chain breaker’, was founded by Go Cardless founder Matt Robinson (pictured, above), Phil Cowans of music fan site Songkick and architect James Turford.

Matt Robinson says 90% of its customers are vendors who have been unable to sell their homes through conventional sales agents.

“Anyone who has ever sold a home in the U.K. knows that the system is broken,” says Matt.

“We fully anticipate being people’s preferred way to sell their home in the coming years. “Based on current demand, we expect to be doing 1% of London home sales in the next few months and 5-10% in the next year.”