A PropTech startup that gives buyers access to pre-market and off-market real estate recently closed a $3 million funding round that will enable it to continue to grow.
Listing Loop, which launched in 2019 and was founded by PropTech entrepreneur Rhett Dallwitz and real estate director and strategist Andrew Meehan, gives property buyers quick and easy access to properties that are not typically advertised through mainstream channels.
The funding round was led by Michael Locaso from investment and advisory firm LP7, who co-invested in the round and has since become Listing Loop’s chief operating officer.
Business and property entrepreneur Michelle Catelan is the lead investor, hailing from the founding family of RP Data, Australia’s leading property data, information and analytics provider (now CoreLogic).
Ms Catelan joins Mr Dallwitz, Mr Meehan and Mr Locaso on the Listing Loop board.
A consortium led by property developers Resi Ventures, as well as technology investor Allectus Capital, participated in the funding round joining the likes of other investors including former NBA and NBL player Andrew Bogut.
Co-founder and chief executive officer, Mr Dallwitz said the investors were committed to innovation and changing how real estate advertising is done.
“This raise will accelerate our growth and expansion across Australia while continually building out our technology and AI features,” he said.
“From day one we’ve adopted an agile approach that allows us to cater to the needs of independent and franchisee real estate agencies, through to the growing demand from corporate real estate franchisor groups around the country.”
Listing Loop seeks to give buyers access to properties they may not otherwise know are for sale, sending them real-time notifications when a new property hits the market.
The company also aims to help agents win new listings and sell properties faster.