Online real estate marketplace FlyHomes has completed a $2m Series A funding round, alongside an extra £2m of debt financing.
The equity round was led by Zulily co-founder Mark Vadon, with participation by Pritzker Group Venture Capital and Avan CEO & Co-Founder Al Goldstein. Following the investment, Mark Vadon will join the company’s board of directors.
Seattle-based FlyHomes allows users to search for and purchase properties online. Through the platform the buyer is connected to a local expert who will help with pricing, research, negotiating, marketing, touring and software engineering.
Over the last year the company has increased successful acquisitions on the platform by 10-times, as well as expanding its team and market.
This investment marks FlyHomes first round of outside investment. The capital will help the company to expand its marketing efforts, accelerate product development and improve the platform.
FlyHomes co-founder and COO Tushar Garg said, “We realized early on that we could provide much more value to consumers by taking a team-based approach and leveraging the balance sheet of our company to help home buyers win, in what are the most competitive buying markets in the US.
“It’s incredibly hard to win in multiple offer situations in markets such as Seattle and San Francisco, especially without overpaying. Despite many buyers trying for more than a year to purchase homes with an agent, our clients are winning homes in less than 2 offers on average.”
Other investments currently in Pritzker Group Venture Capital’s portfolio include loyalty card provider Spring, Options Away, which provides financial market analytics platform for travel industry, and property management platform SMS Assistant.
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