The UK PropTech’s latest seed funding round was led by Barclays
Offr, a UK-based prop-tech platform digitizing the buying, selling and leasing process for real estate agents and buyers, has announced that it has raised £2.7 million through its latest seed funding round, which was led by Barclays with participation from Delta Partners on behalf of Bank of Ireland, AIB, Enterprise Ireland, The European Investment Fund and Frontline Ventures. The seed funding brings Offr’s total funds raised to date to over £3.6 million
Launched in 2019, Offr explained that it is on a mission to enable people to buy, sell, lease, or rent a property with “one-click.” The company offers digital property transactions, from offer to exchange, on any device and from anywhere around the world.
Offr breaks down the barrier between every stakeholder to allow transparent collaboration and seamless communication. Each property has a document vault for solicitors to upload draft contracts, titles and leases. The buyer’s solicitor can then quickly perform their due diligence through the solicitor portal. All documentation can be downloaded and digitally signed using DocuSign within seconds allowing for a faster, flexible and secure experience.
Earlier this year, Offr participated in the Barclays London Accelerator, powered by Techstars and was selected as one of the few candidates for follow-on investment from this year’s cohort of companies. On March 24th during the COVID-19 pandemic lockdown, Offr claims it enabled the world’s first fully remote, end-to-end, digital property transaction. The property was sold entirely online for 61% over the asking price.
Robert Hoban, Co-founder and CEO of Offr, further explained: COVID has changed the landscape completely, it closed off real-estate; we’re bringing it online. I expected we’d be where we are today in five years’ time. We built Offr with a clear and simple goal, to change the way property is bought and sold; to make it faster, more transparent and more enjoyable for real estate agents, buyers and everyone else involved in the process.
Offr went on to add that the funding will be used to accelerate international expansion, bringing trust, transparency and speed to buyers and property agents in the £417 billion UK and AU$280 billion Australian annual real estate markets initially. Offr also plans to further develop its transaction infrastructure platform over the next 12 months.
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