Rightmove challenger OneDome has raised a further £5 million in funding as it jostles with several key competitors to become the next big property portal.
The tech platform, which claims to be first to offer property buyers a combined property search, mortgage application and conveyancing service in one place, has now raised a total of £13 million in funding since it started up four years ago.
Out of all the challenger portals, OneDome arguably has the most high profile backers including Lord Rothschild, the Rueben Brothers, City giant Clark Winslow, Sir Nigel Knowles and the Alliance clothing family.
OneDome differentiates itself from Rightmove and Zoopla by focusing on the whole home-buying process by connecting all the steps in the process into a single customer experience.
It also enables estate agents to advertise on its platform for free, and like many challenger portals has been making hay from the ‘Say No To Rightmove’ campaign.
The new cash will be spent on an e-Homebuyer system to enable purchasers and vendors transact in just four weeks as well as increased marketing to gain industry market share – which currently stands at 48% – and consumer awareness.
“We are delighted to have closed our series A funding round with support from such prominent names in the investment world,” says Babek Ismayil (left), CEO of OneDome.
“The home buying process has had little impact from technology and innovation, which has transformed our experiences in other areas of our life from shopping to food ordering. While home buying is naturally a more complex process, it can still be dramatically improved and optimised.”