A former estate agent who recently launched a conveyancing platform that will disrupt traditional conveyancing platform has opened a fund raising campaign to raise £100,000.
Alex Beagrie’s campaign on crowdfunding platform Seedrs for his company ExchangeTrain.co.uk values his fledgling 18- month old business at £578,000.
This is based on the 14.75% stake in his company being offered to investors via the Seedrs platform.
Beagrie, 24, worked for several Surrey estate agencies before launching his business, which he says enables agents to earn fees from conveyancing referrals while at the same time offering consumers greater transparency about how a solicitor has been recommended to them.
ExchangeTrain says it has received some 10,000 visits to its website and generated 650 quotes thus far.
“Our experience is that your local estate agent will recommend to you an average of four solicitors when looking to move house,” its Seedrs pitch document says.
“There are over 19,000 property solicitors in the UK each providing a different quality of service, price and turnaround time.”
The Seedrs campaign has so far raised £34,299 since it launched on Friday.
“I’m just very excited to be working with Seedrs during this funding round as they are a fantastic company and its a brilliant opportunity to have more people share in our success,” he tells The Negotiator.
The £100k will be used to fund specific parts of the business’ operations including public relations, website development and Google ads spend to attract more consumers to its service.