Melbourne-based proptech Listing Loop has closed the first tranche of its Series A, securing $2.1 million.
Cofounder and CEO Rhett Dallwitz said the startup has more than 75% of its commitments and will finalise the balance of $500,000 over the coming weeks.
“With a 174% YoY revenue growth, our company is at pivotal stage of acceleration,” he said.
“The raised capital plus the strategic input from our lead investors at a board level will fuel our next phase of growth and help us further build out our end-to-end property transaction solutions”.
Existing investor and expat Australian Duncan Saville led the round once via Allectus Capital, a tech-focused subsidiary investment holding company of fund manager he chairs, ICM Ltd, and will gain a seat at the board table. ICM previously backed Gumtree, led a $37 million raise for ASX-listed fintech MoneyMe earlier this year and also has Resimac and Humm on its books.
Michelle Catelan, whose family founded RP Data (now CoreLogic) and joined Allectus in a $3 million raise in mid-2o21 chipped in again on the lastest round.
Listing Loop also counts Resi Ventures and basketball legend Andrew Bogut among its backers.
Dallwitz cofounded Listing Loop in 2019 with Real Estate Institute of Victoria president Andrew Meehan as a marketplace giving buyers quick and easy access to pre-market and off-market real estate – a sector of around 100,000 property transactions, 20% of the national market annually – that are not typically advertised through mainstream channels.
Since then the business has added several Loop-branded property purchase-related solutions including comparison mortgage platform Lending Loop, Conveyancing Loop, and Moving Loop. Three months ago, the business acquired Hello Haus, a property negotiation and advisory firm.
Rhett Dallwitz said the proptech now offers a streamlined digital ecosystem that combines advanced AI with human connection.
“The property transaction services sector represents a staggering $363 billion annually,” he said.
“Listing Loop is ready to spearhead this category providing consumers with a streamlined digital ecosystem that revolutionises the property journey from start to finish.”