Flyp, a London-based proptech founded by three young entrepreneurs last year has raised £5 million from venture capital firm Outward VC alongside several private investors.
Its web-based app says Flyp will help property vendors get more for their homes through a more accurate pre-sale valuation, and also identify how improvements to the property will make it easier to sell, and for more through ‘staging’ or renovations.
It is also a service for agents, providing leads to active vendors coming to market or who have been struggling to sell via their current agents, offering agencies ‘Flyp-approved’ properties, claiming to help cut transaction times and reduce fall-throughs.
The firm’s website, which manages the whole process for both vendors and agents, promises a ‘property revolution’ but it’s case studies suggest the service has so far appealed mostly to London’s prime properties.
So far it’s sold 175 homes and helped generate 3,300 viewings.”
The new cash will be spent on developing its service including a roll-out beyond the capital.
Co-founder Lee Sieradzki (main picture, middle) told Bdaily: “The current status quo is broken, and there is a new generation of sellers, agents, and buyers who demand more transparency, efficiency, and yes, more money. We’re combining our technology, data capabilities, and unrivalled industry expertise to build a new system from the ground up.
“Everyone who has bought or sold a home, including ourselves, will know how frustrating the process is. Often sellers don’t get the most value out of a life-changing transaction, because they don’t have the time, money, or expertise. As a result, money gets left on the table.”
Main pic: Founders Gregg Kantor, Lee Sieradzki and Oliver Gershfield.