Nested wins £37m more funding to expand out of London

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…

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