Two years after being launched hybrid London estate agency Agent & Homes has secured a significant new injection of cash from investors during an fund-raising round that was over-subscribed just four days after opening.
The agency, which offers self-employed agents a platform, brand and technology in return for 10% of their sales or lettings fees, secured the undisclosed funding from a group of private investors lead by Podium Ventures.
The estate agency has also more than doubled the number of agents working via its platform to 18 at the start of 2019 to 40 today, all of whom operate in and around London.
This funding round was secured through the government’s Seed Enterprise Investment Scheme (SEIS) which offers investors tax breaks in return for making investments in companies like Agent & Homes.
“I’m delighted to have been able to assist Agent & Homes close this round in record time during the most extraordinary and challenging of circumstances presented by the global pandemic,” says Sanjay Wadhwani of Podium Ventures.
“We believe it is a fantastic opportunity for independent agents to work with a great team and platform.
“Agent & Homes provides them with all the support they need and enables them to do what they do best as well as retain more of the rewards from their efforts.
“It really is a ‘no-brainer’ for agents, and we look forward to being involved in the company’s journey onwards and upwards.”
Agent & Homes was established by two former employees of John D Wood, Rollo Miles and Bob Crowley, who worked together at the agency’s Notting Hill branch.