Europe-based proptech startup Offr has announced that it has secured around £2.7 million in its seed funding round, the media reported.
The funding round for Offr was led by UK-based investment bank Barclays.
Other investors that also participated in the funding round include existing investors Delta Partners on behalf of Bank of Ireland, AIB, Enterprise Ireland, The European Investment Fund and Frontline Venture.
With regard to the seed funding, Robert Hoban, co-founder and chief executive officer at Offr told the media, “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. We are delighted with the support from Barclays, as we look to grow our business globally.”
The latest funding round brings Offr’s total investment to £3.6 million. According to the startup, it will use the funds for its expansion plans. It also plans to further develop its transaction infrastructure platform over the next 12 months.
Established in 2019, Offr’s platform allows buyers to securely submit offers and close deals on real estate agents’ own websites. It digitalises around 85 percent of the process of buying and selling property for agents and their customers.
Ryan Hayward, Head of Strategic Investments for Europe and Asia at Barclays’ said that Offr has the potential to completely transform the property transaction process globally.