- ListingLoop gives buyers access to pre- and off-market properties
- This can act as a listing tool for agents, and save advertising money for sellers
- The $3M raise will be used as growth capital
ListingLoop, the “property market you’ve never had access to” as they call it, has announced a capital-raising of A$3 million, which will be used for growth.
The online marketplace for off-market properties is now looking to shake up the property market.
Founded in 2019 by Rhett Dallwitz and Andrew Meeha, the idea behind the service is to give buyers access to pre-market and off-market properties. These properties are typically not otherwise advertised, so many buyers would not even know they are for sale.
Buyers are notified in real-time the moment a new property hits the market, allowing them to get in first before everyone else.
Listing Loop’s tech also aims to give real estate agents a competitive advantage to win new listings and sell properties faster, by offering the service. They claim it could cut out thousands of marketing dollars in promoting the property through traditional means, saves money for the sellers, argues the site’s founders.
“This raise will accelerate our rapid growth and expansion across Australia while we build out our technology and AI [artificial intelligence] features.
“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.”
The raise was led by Michael Locaso from investment and advisory firm LP7, who co-invested in the round and has since become ListingLoop’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 Rhett Dallwitz, Andrew Meehan and Michael Locaso on the ListingLoop board.
A consortium led by specialist property developers Resi Ventures, as well as technology investor Allectus Capital, participated in the funding round joining the likes of other existing sophisticated and professional investors including NBA and NBL legend Andrew Bogut.
“We are extremely proud and excited to welcome these industry heavy hitters as investors in ListingLoop.com.au. Each investor is as committed as we are to innovation and shaking up how real estate advertising is done in Australia”.